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COMEX gold futures rose sharply on the 10th, with April-gold rising by $21.40 to $914.20. The afternoon closing price for London gold was $909.75 per ounce, up by $14.75. The rise in gold prices was driven mainly by technical buying, the sharp decline in U.S. stock markets, and rising risk-aversion in the market due to concerns that economic stimulus measures in the U.S. would ultimately lead to inflation. The world’s largest gold ETF, SPDR, increased its gold holdings by 12.85 tons on the 10th, reaching a record high of 894.72 tons. The U.S. Senate approved a $838 billion plan to rescue the economy on Tuesday; markets believe that **every effort will be made to revive the credit market and curb the recession, which will lead to inflation. The stock market reacted negatively to the rescue plan; uncertainty over measures to aid banks led investors to sell off financial stocks, and the three major U.S. stock indexes fell by more than 4%. The Dow Jones Industrial Average dropped 4.62%, falling below the 8,000-point mark. In terms of data, a report released on Tuesday showed that, on a seasonally adjusted basis, U.S. commercial retail sales for the week ending February 7 declined by 1.7% compared to the same period last year. The stock market dropped sharply, raising the demand for the dollar as a safe-haven asset; the dollar index rose by 0.56% to close at 85.545 ； The euro fell 0.39% against the dollar, closing at 1.2915. In March, crude oil futures closed down by $2.01, at $37.55 per barrel. The drop in oil prices was driven by market concerns over whether U.S. economic stimulus measures would be able to prevent further weakness in demand, as well as widespread expectations of another increase in U.S. weekly inventory levels. Technically, the euro against the dollar is oscillating at lower levels under the pressure of moving averages; these moving averages form a bearish pattern that exerts downward pressure, and the middle band of the Bollinger Bands also acts as a source of pressure. It is expected that the currency pair will continue to fluctuate weakly at lower levels in the coming period. The U.S. dollar index found support at the technical level of 84.35; it is fluctuating around the integer level of 85, supported by the Bollinger Middle Band, and in the short term it is expected to oscillate and attempt to reach the upper limit of this range. The crude oil index has been hovering at low levels, suppressed by the area of converging moving averages; these averages, along with the middle band of the Bollinger Bands, exert downward pressure. Last night’s bearish candlestick pattern further confirmed this trend, indicating weak performance at lower levels in the short term. Gold has rebounded back to $900, under pressure from the trend line at higher levels; technical indicators are now near 50. In the short term, it is expected to experience oscillatory adjustments, waiting for it to move closer to the moving averages, with $875 serving as a technical support level for the index. The price of the COMEX April gold contract is approximately 201.21 yuan per gram in RMB terms, up by 3.66 yuan per gram; the electronic trading platform opened slightly higher today. On Wednesday, Shanghai gold is expected to rebound and rise, with the 906 contract testing 200 yuan per gram. In terms of strategy, it is advisable to make small purchases each time the price drops, adopting a flexible trading approach, and to wait for the external market to stabilize before making purchases. Haixin Steel Information Network (http://www.hxsteel.cn)