U.S. stocks edged higher as solid earnings prospects from banks and AI firms this week largely offset increased Middle East risks driven by Houthi militant strikes against Saudi Arabia, driving brent crude to $105/bbl. The 10-year treasury yield was unchanged at 5.24% given today’s U.S. bank holiday. Bitcoin, gold and silver fell modestly; chip stocks were mixed.
This week we get Sept CPI and Fed Chair Warsh speaks at the IMF-World Bank event for central bankers in Bangkok on Friday. S&P 2026 EPS estimates of $367 (+32% YoY) imply a 21.3x P/E and inverted 4.7% earnings yield versus Treasuries—echoing the late-1990s—though yields may ease if Iran tensions ease. We remain cautious on $Tesla(TSLA.US) given its stretched valuation, negative long-term earnings revisions trend, and the expected commoditization of autonomous driving technology.
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The US just hiked rates and the USD is still strong. Brent crude is expected to rise 📈 to around $103-104, while gold is looking at a sharp drop 📉. Brent crude falls 📉 to $97-98. Gold's recovery is slow; it dropped from 4,700 to the low 4,000s, now bouncing back to around 4,190. Down days outweigh up days. It may eventually break below 4,000 (around 3,800-3,900) 🤣
$Gold.com(GOLD.US)
🏆 [Weekly] : Gold Review: Bouncing Off $4,080, Is This the Bottom or Just a Pause?
🔷 Technical Snapshot
Gold is trading at $4,194.65, up 1.47% on the day. After pulling back from highs around $4,600 to $4,700, price found strong support between $4,000 and $4,080.
The daily RSI is at 45.64, turning up from near-oversold levels. The broader trend remains neutral to bearish for now.
On the 4-hour chart, the bounce looks clearer. Price reclaimed $4,160 and is testing short-term resistance near $4,200 now.
The 4-hour RSI at 60.63 shows rising bullish momentum on this shorter timeframe. The immediate resistance is at $4,200 followed by $4,280 to $4,300. The immediate support sits at $4,120 to $4,160, with the major floor at $4,080.
🔷 The Big Headwind - Real Yields
This bounce is largely technical relief. Elevated global interest rates and the Fed’s cautious stance keep real yields high.
Shiny gold pays no yield hence it creates ongoing fundamental resistance that limits how far this rally can run.
🔷 Strong Support Remains
The $4,000 level has held firm. Central bank demand and safe-haven buying are still active during market uncertainty.
That means there is solid underlying support even if the short-term path is choppy.
🔷 Fundamentals Snapshots- What Comes Next
All eyes are on US data next week. CPI on next Wednesday 14 October and will be the main catalyst, followed by PPI and Retail Sales on Thursday.
🔥 Hot CPI = Higher yields → Stronger USD → Gold may retest $4,080 support
❄️ Cool CPI = Softer rate bets → Weaker USD → Gold may break above $4,200 toward $4,280
Watch for a confirmed 4-hour close above $4,200 or a break below $4,120 before leaning one way or the other.
Are you buying the dip or waiting for clearer signals? Share your thoughts below! 👇
Not financial and investment advice. Please conduct your own due diligence.
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$VanEck Gold Miners ETF(GDX.US)
Gold dipped at the start of the week amid a US Treasury bond panic before stabilizing.
I decisively bought into GDX, treating it as a gold futures proxy with 1.5-2x leverage. Not that it actually has leverage, but its volatility is 1.5-2x higher in performance.
I tend to favor it over pure commodities when trends are clear.
Of course, I also buy it in combination with others, using them as detectors for market sentiment.
Trade Showcase: Trade, Show & Earn Rewards! - N
It's the final Trading day of the week and our local market has stabilised a bit by the close. Much remains to be seen though for the banks as pressure on margins could show in upcoming earnings next month. Moreover, we could potentially see more partial sells with the reduced board lots.
Featured☕️ [Task Coins Giveaway] Daily Market Talk — OpenAI's $20B Gap Hits AI StocksThe FT reported OpenAI's annualized revenue is about $20B lower than thought, and the AI chain sold off: Oracle -5.5%, CoreWeave -7.8%, Nvidia -2.9%. At home, the STI closed -3.5% Thursday as all thre...
- M
Singapore bank stocks have pulled back sharply over the past few days amid concerns about interest rates, earnings growth and profit-taking after their strong run. I see this as a potential buying opportunity but would wait for valuations to become more attractive before adding, rather than rushing in after a few down days.
Featured☕️ [Task Coins Giveaway] Daily Market Talk — OpenAI's $20B Gap Hits AI StocksThe FT reported OpenAI's annualized revenue is about $20B lower than thought, and the AI chain sold off: Oracle -5.5%, CoreWeave -7.8%, Nvidia -2.9%. At home, the STI closed -3.5% Thursday as all thre...
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The market retreated and it’s about time. Healthy too! The OpenAI thingie? It will be forgotten again much like all the AI FUDs before. Remember the recent ‘Anthropic’ one? There will be an ‘AI bubble’ one when tech rallies again. People love stories!
Featured☕️ [Task Coins Giveaway] Daily Market Talk — OpenAI's $20B Gap Hits AI StocksThe FT reported OpenAI's annualized revenue is about $20B lower than thought, and the AI chain sold off: Oracle -5.5%, CoreWeave -7.8%, Nvidia -2.9%. At home, the STI closed -3.5% Thursday as all thre...
- H
Haha….The market especially tech was about to sell off regardless. I kept mentioning that the past few days. The OpenAI narrative was just an explanation that is redundant. 😂
Featured☕️ [Task Coins Giveaway] Daily Market Talk — OpenAI's $20B Gap Hits AI StocksThe FT reported OpenAI's annualized revenue is about $20B lower than thought, and the AI chain sold off: Oracle -5.5%, CoreWeave -7.8%, Nvidia -2.9%. At home, the STI closed -3.5% Thursday as all thre...
- R
Party day for the doom and gloom group. Though am curious why all of them come out on the same day? And then they go into hiding when markets are up. Haha. Trust your own conviction.
Featured☕️ [Task Coins Giveaway] Daily Market Talk — OpenAI's $20B Gap Hits AI StocksThe FT reported OpenAI's annualized revenue is about $20B lower than thought, and the AI chain sold off: Oracle -5.5%, CoreWeave -7.8%, Nvidia -2.9%. At home, the STI closed -3.5% Thursday as all thre...
- A
It was Red Sea yesterday. Based on past month trends, this is probable temporary and a good opportunity to accumulate as the % dips were quite wide for the bank shares
Featured☕️ [Task Coins Giveaway] Daily Market Talk — OpenAI's $20B Gap Hits AI StocksThe FT reported OpenAI's annualized revenue is about $20B lower than thought, and the AI chain sold off: Oracle -5.5%, CoreWeave -7.8%, Nvidia -2.9%. At home, the STI closed -3.5% Thursday as all thre...
