US stocks closed lower on Friday, with tech stocks dragging down the market! Here’s how to view the gold, crude oil, and silver trends for next Monday

On Friday, US stocks wrapped up the week with a “volatile finish,” with all three major indices declining, led by a slump in tech shares. The Dow Jones Industrial Average fell 0.51%, closing at 48,458.05; the S&P 500 dropped 1.07%, ending at 6,827.41; and the Nasdaq Composite declined the most, down 1.69%, finishing at 23,195.17.

Specifically, chip stocks were hit hardest, with the Philadelphia Semiconductor Index plunging 5.1%, Broadcom down over 11%, and leaders like Micron Technology and ON Semiconductor also falling significantly; NVIDIA declined over 3%, Amazon nearly 2%, as tech giants collectively “cooled down.” The main reason is that investors are becoming cautious about the artificial intelligence sector, which surged too rapidly before, leading to some hesitation now. Chinese concept stocks saw mixed performances: Artistry Solar dropped over 10%, but stocks like TAL Education and New Oriental rose over 2%, standing out as bright spots. Overall this week, however, the Dow still gained 1.05%, while the S&P and Nasdaq saw slight declines, presenting a "mixed bag" of gains and losses.

After reviewing US stocks, let’s focus on the trends for gold, crude oil, and silver next Monday, which are the main hard currencies everyone is concerned about:

First, gold—definitely a “beneficiary of rate cuts”! The Federal Reserve recently cut rates by another 25 basis points, bringing the policy rate to a three-year low of 3.50%-3.75%. The non-yielding asset’s appeal has surged. Currently, spot gold has risen to around $4,344 per ounce, breaking through previous ranges and firmly staying above $4,200. The technical outlook remains bullish, with the MACD red bars lengthening and potential for further gains. However, geopolitical tensions could ease, which might “brake” gold prices, so next Monday, a pullback followed by a rebound might be more stable. Watch resistance at $4,335-$4,355 and support at $4,240-$4,260. Avoid chasing highs.

Next, silver—this wave is an “dark horse among dark horses”! It has already broken through $60 per ounce, hitting a new all-time high, with the highest reaching $60.79, and the year-to-date increase exceeding 100%. On one side, expectations of Fed rate cuts are pushing prices up; on the other, physical supply shortages are significant—global silver inventories only cover 1.2 months of consumption, with industries like photovoltaics and new energy vehicles competing for supply, supporting high prices. Next Monday, the strong momentum is likely to continue, given the rapid rise. As long as no major negative news emerges, further gains are possible, but beware of a “profit-taking” pullback—don’t blindly chase the rally.

Finally, crude oil looks “miserable”—not only has it continued to fall, but it’s also approaching October lows. Currently, US crude is around $57.43 per barrel, Brent crude at $61.28. The main reason is increasing US gasoline and diesel inventories, raising concerns of oversupply. Plus, geopolitical tensions easing and Russian oil supply possibly returning add to the bearish pressure. Technical signals also point downward, with a short-term downtrend. Next Monday, focus on the $56 per barrel support level; if broken, prices could fall further. Consider buying on dips and selling on rebounds, with resistance at $59-$60. Don’t expect too much of a rebound.

Overall, precious metals look “still attractive” next Monday, with gold and silver maintaining a strong trend, while crude oil faces oversupply pressures. In investing, follow the trend, keep an eye on key levels, and avoid being swayed by short-term volatility.