Huitong.com November 4th - Friday (November 4th) spot gold high shocks, currently trading at 1304.01 US dollars The US Department of Labor announced October non-agricultural employment population fell short of expectations, providing support for gold prices, but unemployment rate Declining, the overall employment situation is still relatively strong, causing gold to bullish the bulls; the crude oil market, the market rumors that Saudi Arabia threatened to increase production and may even withdraw from the OPEC meeting, making the expectation of production cut more pessimistic, oil prices once fell to a six-week low, but then OPEC Secretary-General The rumors were denied and helped the oil price to recover most of the decline. 
[Non-agricultural report is mixed, gold price "tangled" waiting for general election]
On Friday, spot gold was still fluctuating at a one-month high. As the unemployment rate fell and wage growth was better than expected, gold prices fell short-term below the $1300 mark to $1,295 after the non-agricultural data was released, but the new employment population was less than expected. At one time, spot gold rose to around $1,307. However, the market generally believes that the employment report still provides support for the Fed to raise interest rates in December. The price of gold is currently falling back to around $1,304, failing to break the resistance near this week's high of $1,308. 
(Spot gold daily chart)
According to specific data, the non-agricultural employment population in the United States increased by 161,000 in October, which was less than expected. It is expected to increase by 173,000 and the previous value will increase by 156,000.
The data also showed that the US unemployment rate recorded 4.90% in October, in line with expectations, the previous value was 5%; the US labor participation rate recorded 62.80% in October, the former value was 62.9%; the average annual hourly wage increase in the US in October was 2.8. %, better than expected, expected to grow by 2.6%, the previous value increased by 2.6%; the average monthly hourly wage in the US increased by 0.4% in October, better than expected, expected to increase by 0.3%, and the previous value increased by 0.2%.
Reuters commented that in October, the number of non-farm payrolls in the United States maintained strong growth and wages increased. The Fed’s interest rate hike in December was almost certain. The non-agricultural report was published only four days before the US election, but economists believe that the report There is almost no impact on the election elections; but the results of the elections may still undermine the Fed’s plans, especially if the two sides are in court.
"Debt King" Gross believes that this is a good employment report, and the actual economic growth rate in the United States is between 1-1.5%. The employment report confirms that interest rates will rise in December; the current problem is the Fed’s rate hike and the number of times the Fed may raise interest rates slowly.
Atlanta Federal Reserve Chairman Lockhart said that the non-agricultural employment data in October is satisfactory and the economy is approaching full employment; the interest rate environment will be gradually upgraded in the next two years.
After the US non-farm payrolls data released in October, the US federal funds rate futures hinted that the Fed’s probability of raising interest rates rose slightly to 80% in December (78% before the data was released); however, the rebound in the US dollar index was blocked and is still near the three-week low. Concussion, trading around 97.11. 
(Dollar Chart Daily Chart)
It is worth reminding that due to the proximity of the US presidential election, both sides are more cautious, and there are still many analysts who are bullish on the gold market.
Brian Lan, managing director of Singapore-based gold trader Gold Silver Central, said that because of the uncertainty brought about by the US election, we have seen good gold buying needs, and people think that gold prices will definitely rise.
Tu Guobin, head of research at Yongfeng Financial Group, said that at present, the real concern is the US election. The price of gold will hover around $1,300. Since the Hilary email portal has been fermented, popularity has changed, and speculative interest has shifted from the US rate hike to the presidential election.
On the whole, as the US will hold a general election next Tuesday (November 8th), the overall trading is still cautious, limiting the fluctuation of gold. The above continues to focus on the resistance around the 60-day moving average of 1304.64. If it can effectively break through, the gold price is expected. It will further explore the resistance around the 100-day moving average of $1315.47; if the intraday gold price cannot effectively break the resistance of the 60-day moving average, the downside risk of the gold price will increase, focusing on the support around $1,290, once it falls below effectively, or Further explore the support near the middle of the daily line Bollinger Band at $1,272.
[Saudi’s increase in production rumors are rampant, oil prices are bottoming out]
On Friday, international oil prices bottomed out. US crude oil futures fell more than 2% in December, refreshing a six-week low to $43.57 per barrel. Brent crude futures hit a low of $45.08 per barrel in January, due to market rumors in Iran. After refusing to set the production ceiling below 4 million barrels per day, Saudi Arabia has threatened to significantly increase crude oil production, which has further raised expectations that the market will reduce production in oil-producing countries. However, OPEC Secretary-General denied the rumors and helped the oil price recover. Partial decline. 
(US crude oil December futures daily chart) 
(Brent crude oil January futures daily chart)
According to news from Reuters on Friday, OPEC informed that at the OPEC technical meeting last week, after Iran refused to set the production ceiling below 4 million barrels per day, Saudi Arabia has threatened to significantly increase crude oil production and increase its oil production. To 1100 or even 12 million barrels per day to suppress oil prices and withdraw from the OPEC meeting.
Former Saudi Energy Minister Ali Al-Naimi said on Friday that it was not optimistic that OPEC could finally reach a specific production reduction agreement on the agreement reached at the Algerian Energy Conference. Efforts similar to trying to unite oil-producing countries in 2014 ended in failure; no OPEC energy minister hoped to cut production.
Goldman Sachs analysts said in the report that although OPEC's consultations in Vienna last weekend were only a technical meeting, the lack of progress in achieving production quotas and the growing divergence between OPEC oil producers hinted at the possibility of an agreement at the Vienna meeting on November 30. Falling, oil prices may fall to $40.
John Kilduff, an oil market expert and partner at New York-based energy hedge fund Again Capital LLC, points out that given the fact that oil production in every corner of the world seems to be increasing rather than decreasing, the market has retreated the premium of the Algiers agreement, and This trend will continue. Before the meeting on November 30, the selling pressure will further intensify, and the US oil will even fall back from the $30 mark.
In addition, the sharp increase in US crude oil exports has also weighed on market sentiment.
Statistics from the US Bureau of Statistics show that US crude oil exports reached a record high of 692,000 barrels per day in September. The largest export was 243,000 barrels per day to Canada, followed by Singapore, Italy, South Korea, etc.
However, the speech of the OEPC Secretary-General reversed the daily decline in oil prices and helped the oil price recover most of the decline in the day.
OPEC Secretary-General Balkin said that Saudi Arabia did not threaten to increase production at the Vienna meeting. Saudi Arabia’s contribution at the meeting was very constructive.
So far, US oil has fallen more than 8% this week. The next action is still there, with a focus on support near the September 20 low of $42.55 and above the resistance around the 5-day moving average of $45.46.
US crude oil drilling data will also be released on Saturday morning (November 5). Investors should also pay attention to the fact that since the end of June, the number of US oil drilling has been increasing moderately, and has increased by more than 100 to 441.
[Pound Sterling hits another three-week high, or continues to be pushed up)
On Friday, the pound rallied slightly against the US dollar, once rising above the 1.25 mark, hitting a three-week high of 1.2511. On the one hand, the previous Supreme Court of the United Kingdom continued to provide support for the Sterling in connection with the launch of the Brexit process. On the other hand, recent UK data Relatively optimistic, and there have been a lot of short-covering in the market, which triggered a short-selling market; analysts believe that the pound market is expected to rise to 1.26. 
(Pound Sterling against the US dollar daily chart)
On Thursday (November 3), the British BBC reported that the London High Court ruled that the British government needed parliamentary approval to trigger the Brexit procedure; the market's expectations for Britain's Brexit were cooled. And the Bank of England has once again kept interest rates unchanged, suggesting that the UK economy is developing steadily; the referendum provides support for the pound.
Goldman Sachs pointed out that the British Supreme Court ruled that the government started the Brexit vote, which lowered the possibility of the UK starting the Brexit next March, and may limit the toughness of the British government's position in the negotiations; the chance of hard Brexit is reduced. In the short term, or push up the pound against the dollar to 1.26.
The French bank also believes that the short-term, medium-term and long-term models show that the sterling valuation is too low, the pound short position is somewhat excessive; this week's bullish momentum may continue to stage below 1.30. Based on the expectation of a mid-term rebound in the pound, the internal model predicts that the pound against the dollar will reach $1.33-1.35. In the medium to long term, Carney said that the Bank of England's endurance of inflation above the target level is limited and has a catalytic effect; in addition, the Bank of England is no longer expected to further relax its policy.
However, British Prime Minister Teresa May said that he still plans to start Article 52 of Brexit at the end of March next year. He has told Merkel and Junck that the British government has sufficient grounds for appeal in the case of withdrawal from Europe. Later, It will meet with French President Hollande and European Council President Tusk. Investors still need to pay attention to breaking news on related matters.
Materials: phosphor copper wire (Tin bronze wire)
Property: Non-magnetic, wear resistant, good ductility.
Specification: 2mesh~400mesh, Width: 0.762~2m
Weave: plain weave, twill weave.
Tin Bronze Mesh,Metal Mesh Bronze,Bronze Mesh,Bronze Metal Mesh
YingKaiMo Metal Net Co.,Ltd. , https://www.ykmmetalnet.com