Gold futures exhibited sideways movement during Wednesday's Asian trading session, with prices fluctuating around ¥773.86 per gram. As of reporting time, the contracts settled at ¥775.02/gram, marking a 0.41% increase. Intraday trading saw prices reach highs of ¥779.40 and lows of ¥773.84, indicating persistent market indecision. Currently, gold futures show a short-term consolidation trend.

The U.S. government has threatened to withdraw from the International Energy Agency (IEA), criticizing the organization for downplaying fossil fuel demand. American officials contend that IEA's projections excessively favor aggressive green transition targets, thereby distorting investment decisions. Energy Secretary Jennifer Granholm explicitly warned that Washington might exit the agency unless it reforms its forecasting methodology, which has drawn Republican criticism. "We need to either reform the IEA's operations or withdraw," Granholm stated, adding her personal preference leans toward restructuring.

Established during the 1970s oil crisis to bolster energy security, the IEA now faces controversy over incorporating government-driven fossil fuel phase-out policies into its long-term forecasts. Granholm confirmed having discussions with IEA Executive Director Fatih Birol regarding these concerns. The agency has yet to issue an official response.

For Shanghai gold futures, traders should monitor the critical resistance zone between ¥782 and ¥810 per gram, while crucial support levels cluster between ¥765 and ¥800 per gram. Market participants await clearer directional catalysts as geopolitical tensions and monetary policy expectations create opposing forces in precious metals markets.

Disclaimer: Market analysis serves educational purposes only and doesn't constitute investment advice. Trading involves substantial risk, and investors should conduct independent research before committing capital.