Spot Gold: On October 1, the overnight US August core PCE came in below expectations, briefly pushing gold prices up to around 4219, but high levels of the dollar and Treasury yields capped gains, and coupled with a rebound in oil prices, gold quickly retreated after spiking, ultimately closing near 4156–4157.

In early trading, gold traded in the 4150–4185 range, with the short-term move still being a correction after the sharp drop rather than a trend reversal.

In terms of trading, one could wait for short positions on resistance at 4185–4195, or go long on stabilization at a pullback to 4140–4150.

During the National Day holiday, overseas market liquidity is thin, and ahead of tonight's initial jobless claims and tomorrow's non-farm payrolls data, it is advisable not to chase orders with heavy positions.

Key levels: Resistance: 4200, 4220. Support: 4140, 4120. Entry points/ranges: Aggressive short at 4190±5, stop loss 05; conservative short at 4240±5, target 4140, hold if broken! Aggressive long at 4148±5, stop loss 38; conservative long at 4120±5, target 4190, hold if broken! [GOLD watershed: 4200 USD/oz! Note: The above views are for reference only; in extreme market conditions, strictly control risk.]

WTI Crude Oil: The overnight US-Iran negotiation stalemate remains unresolved, and Middle East geopolitical risks persist, but the restoration of Saudi pipelines, the recovery of Gulf exports, and the US plan to release 40 million barrels of strategic reserves have significantly eased supply concerns.

WTI crude oil closed at 90.42 USD/barrel on September 30, and in Asian morning trading it briefly surged to 91.5–91.96 USD/barrel before pulling back, with short-term trading still oscillating broadly around 90 USD.

In terms of trading, one could wait for short positions on resistance at 90.60–91.00, or go long on stabilization at a pullback to 86.5–87.0.

During the National Day holiday, overseas market liquidity is thin, and the weekend OPEC+ meeting and US-Iran negotiation progress could amplify volatility; before the holiday, it is advisable not to chase orders with heavy positions.

Key levels: Resistance: 91.0, 93.0. Support: 87.0, 85.0. Entry points/ranges: Aggressive short at 89.8/90.3, stop loss 91.0; conservative short at 91.8/92.5, target 89.0, hold if broken! Aggressive long at 87.0/86.5, stop loss 85.8; conservative long at 85.7/85.2, target 92.0, hold if broken! [WTI watershed: 88.5 USD/barrel! Note: The above views are for reference only; in extreme market conditions, strictly control risk.]