Oil prices retreat from a six-month high, gold prices rise slightly, and the market closely watches the Federal Reserve meeting.

⑴Spot gold rose 0.5% to $4,017.37 per ounce, still near a three-month low; last week, gold prices plunged 4%, marking the largest single-week drop since June. US gold futures simultaneously increased 0.6% to $4,030.75.⑵Crude oil prices plunged more than 2%, retreating from a six-month high; with a Qatari delegation negotiating in Iran and Saudi airports gradually resuming operations, Middle East geopolitical tensions have eased, which in turn cooled inflation expectations.⑶Singapore and Saudi Arabia have finalized a crude oil storage plan: starting in the second half of 2027, Saudi crude oil will be stored in underground caverns in Singapore to hedge against supply disruption risks caused by US-Iran conflicts.⑷The market widely expects the Federal Reserve to keep rates unchanged this week, but there is still a significant probability of a 25 basis point hike in December. This week, the European Central Bank, Bank of Canada, and Bank of Japan will announce consecutive rate decisions. Combined with US GDP and PCE inflation data, these developments will continue to reshape rate expectations.