On December 18th, Jinshi Data reported that Ole, the head of Commodity Strategy at Shengbao Bank,

The price of gold has fallen, but Ole Hansen believes that there are still bullish opportunities for gold. Factors supporting gold include increased government spending after the US election, deteriorating US debt situation, Central Bank purchases of gold reserves, etc. The pullback in the past week is a healthy response to previous buying.

On August 13, Jin10 Data reported that the result of the first OLE consumption REITs that the market is following, Huaxia's first OLE REIT, was announced. The announcement shows that the confirmed subscription ratios of public investors and offline investors for Huaxia's first OLE REIT are 4.298% and 16.055%, respectively. The total subscription amount for this issuance is RMB 7.0785 billion (before proportionate allocation), which once again sets off a wave of public sale REITs.

On August 4th, Jinshi Data reported that Ole Hansen, head of commodity strategy at Shengbao Bank, said that if economic data continues to weaken, the spot gold price could quickly reach the $2500 mark. The prospect of a Fed rate cut, coupled with ongoing geopolitical tensions, rising debt concerns, and new demands from central banks and ETF investors, is expected to further support and pump up the gold price.

Jinshi Data News on July 29th, Shengbao Bank's head of commodity strategy, Ole Hansen, said that the market still believes that the broader Middle East conflict has limited risk to oil supply. The market continues to follow the recent demand outlook, with Brent crude and WTI crude falling to around $80 and $76 per barrel, respectively, attracting some speculative short positions.

Gold prices slipped overnight after the release of PPI data reinforced expectations that the Federal Reserve will be cautious on the issue of interest rate cuts. Spot gold fell 0.6% to $2,162.19 an ounce. Ole Hansen, head of commodity strategy at Saxo Bank, said Fed officials "have been cautious for now and for some time now, and the PPI data has not changed that outlook." Although gold prices retreated on Thursday, the precious metal remains at elevated levels after a long rally, and a break below $2,135 could trigger long unwinding by speculators such as hedge funds and fund managers, Hansen said.

Oil prices remain near $81 after three consecutive weeks of declines, and traders are awaiting confirmation from this week's industry report on whether the recent decline has been excessive. Goldman Sachs Group Inc. analysts said renewed demand concerns drove the sell-off, but consumption remained strong throughout the year and is likely to continue that momentum in 2024. Goldman Sachs also lowered its price forecast for next year to $92 a barrel. The OPEC monthly report said that "exaggerated negative sentiment" had led to lower prices, but recent data showed healthy fundamentals and strong global economic growth. The IEA will release its report tomorrow, and two more EIA inventory data will be released later this week. Ole Hansen, head of commodity strategy at Saxo Bank, said crude oil started the week to return to the defensive, but so far both Brent Oil and WTI have held above key support levels, which could indicate that the worst phase of long-term unwinding has passed.

Crude oil prices remained largely range-bound as OPEC+ production cuts offset weaker demand. Saxo Bank analyst Ole Hansen said Brent crude oil, which closed at its highest level in two weeks on Wednesday, was largely steady despite surprise production cuts by Russia and Saudi Arabia earlier this week. "Overall, we think oil prices are approaching cycle lows, but don't rule out the possibility of more challenges in the coming months, mainly because of concerns that the strong demand growth forecast by OPEC and the IEA will can not achieve."

Concerns that high interest rates will weigh on global economic growth appear to be resurging, overshadowing supply and demand trends in the oil market itself, sending oil prices lower. Several policymakers sounded hawkish on interest rates last week, with Lagarde saying on Tuesday that the ECB may not be able to call an end to its historic cycle of rate hikes anytime soon. The key time spread, which helps gauge the strength of the oil market, fell further into a bearish contango structure on Tuesday, pointing to a persistent oversupply. More broadly, futures have struggled to find direction since early May. Ole Hansen, head of commodity strategy at Saxo Bank, said: New York crude oil futures are still on track for the first consecutive quarterly decline since 2019, due in part to headwinds from the Fed's aggressive monetary tightening policy and strong Russian crude oil prices. Exports add to pressure on oil prices.