Category Archives: Gold

gold markets trends

The gold price might hit its highest level in six months

On November 12, the dollar index weakened, limiting the intraday decline in gold prices. Gold may still be at its highest weekly gain since May 7th, boosted by US consumer concerns about rising prices and the anti-inflation gold charm. The Fed’s “wait and see” strategy has some drawbacks. Inflation expectations are now at historic highs. If inflation expectations continue to rise, a vicious circle of inflation will form, and the Fed will lose its best window of intervention.

The dollar index weakened on Friday (November 12), limiting the intraday decline in gold prices.

Concerns about rising consumer prices in the US may still boost gold’s anti-inflationary appeal.

The main COMEX gold contract fell 0.39 percent to $1,556.6 per ounce at 16:18 Beijing time. The US dollar index was flat at 95.171.

 

It is worth noting that the US dollar index rose to 95.256, its highest level since late July 2020, increasing the cost of buying gold for non-US citizens.

Earlier, the US announced that consumer prices rose the most in over 30 years last month.

The sharp rise in inflation has also prompted investors to bet on a faster Fed rate hike. Rate increases increase the opportunity cost of holding gold, which pays no interest.

“Until the supply chain resumes, upward price pressure will continue,” said Stephen Innes, managing partner of SPI Asset Management. Innes also predicted a rise in gold prices due to supply chain issues. This may lead to longer-lasting inflation, with slower rate hikes. He added that the rate hike cycle should eventually lower gold’s price.

According to Michael Langford of AirGuide, as the Fed’s gradual reduction in debt purchases and increased stimulus inflows fades, gold tends to fall below $1,850 in the short term.

Everbright Securities’ Gao Ruidong, managing director and chief macroeconomist, released a research report analyzing the risks of the Fed’s “wait and see” interest rate hike strategy.

Inflation expectations are now at historic highs. If inflation expectations continue to rise, a vicious circle of inflation will form, and the Fed will lose its best window of intervention.

Despite US Vice President Biden’s assurances that price increases are temporary, the opposition has found new targets.

Several Republicans on the House Energy and Commerce Committee tweeted that investing trillions of dollars in infrastructure projects will only worsen the US crisis.

Last week, the US Congress passed the infrastructure bill, and Biden won, but his plan to “rebuild a better world” did not receive unanimous Democratic support.

The plan aims to invest 1.85 trillion dollars in the US social safety net over ten years.

“Everyone agrees that the threat of record inflation to the American people is not temporary, but worsening,” said Joe Manchin, a moderate Democrat.

Bitcoin is frozen, whilst Gold expected to rise.

Bitcoin is frozen, whilst Gold expected to rise. Can it reach 10,000 US dollars in extreme cases?

May 27 – Huitong.com According to Scott Minerd, chief information officer at Guggenheim, as cryptocurrency prices fell and investors returned to gold and silver, the final gold price target was set at the US $5,000 to the US $10,000. Minerd also forecasts a 10% correction in US stocks over the next six months but added that the S&P 500 index would eventually reach 5000 points, if not higher.

On May 26, Guggenheim Chief Information Officer Scott Minerd stated that as cryptocurrency prices fell and investors returned to gold and silver, precious metals would gain momentum, with the final gold price target set at the US $5,000 to $10,000.

To read the most recent report, open the app.

“As funds exit the cryptocurrency market, people will continue to seek inflation-hedging instruments, and gold and silver will be better choices,” Minerd said in an interview.

According to Minerd, this will take time due to the size of the gold market, but the precious metals will enter an “exponential rise.”

He added that the ultimate goal for gold is a price of between US $5,000 and $10,000 per ounce.

Silver’s price typically lags. This is the poor man’s gold. It may also surpass gold as the most valuable precious metal. It is a version of gold with a high beta.

When discussing the future of cryptocurrencies, Minerd stated that while he believes Bitcoin and Ethereum will endure, new cryptocurrencies will likely dominate the digital asset space.

Additionally, he stated, “We will discover that some new cryptocurrencies will emerge for an extended period.” It can resolve several of the issues we are currently facing, including mining costs and total carbon production. It will develop into a high-level cryptocurrency and eventually become the dominant one.”

Minerd also forecasts a 10% correction in US stocks but predicted that the S & P 500 index would eventually recover.

“I believe the US stock market will experience a correction,” he stated. I believe that the US stock market will experience a 10% correction over the next six months. However, I think the S & P 500 will eventually surpass 5000 points. It could even be more extraordinary.

At 8:44 a.m. Beijing time on May 27, spot gold was quoted at $1,894.59 per ounce.

Gold continued to test the 1890 level today!

Last Friday, Gold staged another roller coaster ride. As expected, the US market surged higher and halted. The 1889/90 position fell and then retreated. It repeatedly failed to test the low point support in 1870. It came to a halt, stabilized, and rebounded here. Late Friday, more orders were traded in the 1873 area. Today, Monday, the quotation begins at the year 1882 and harvests! Gold fell at the end of last week, but it got off to a good start this week. Even in 1890, gold encountered resistance. The suppression has been prompted numerous times, and it is still focused on today. At the moment, the gold top is still meeting resistance at the 1890 level, and the situation is shocking. Early trading suggests that gold is not attempting to reach new highs. This can be relied on to suppress the short-term. Look for 1870 to act as a support law and multiple bullish signals in the chart below. Treat in shock within the range. A new wave will emerge after breaking through in 1890. More orders will be followed up on! Last week, gold closed at the extensive Yangxian line once more. The current 1870 position is supported. It did not break the position after touching this position after falling twice on Friday. The deep market V then retraced its steps, continuing to test the 1890 level today! Because the current trend is still upward, try to focus on low and long operations, but if you don’t break through before 1890, don’t chase long. Instead, they retreat and rely on the support of 1870 to last. Early trading caused the short of Bo to be suppressed in 1890, and it is now hitting 1877/. The 75 areas left the field and then returned around 1875, bullish with support at 1870! Today’s gold business ideas: Backhand close 1875 to do more protection in 1868, target the 1885-90 area; gold 1885-90 empty orders left the field in the 1877/75 area; gold 1885-90 deserted orders left the field in the 1877/75 area; gold 1885-90 open orders left the field in the 1877/75 area; gold 1885-90 open orders left the field in the 1877/75 area; gold 1885-90 empty orders left the field in the 1877/75 area; gold 18

The S&P500 and Nasdaq surged while the Dow Jones staggered.

The S&P 500 and Nasdaq surged on Wednesday while the Dow Jones staggered.
The Dow staggered the broader U.S. stock market on Wednesday, as sinking energy and financials shares weighed on the benchmark index.
Wall Street’s leading indices closed mixed, with the Dow Jones Industrial Average (DIA) declining 85.41 points, or 0.3%, to 32,981.55.
The broad S&P 500 Index (SPY) of large-cap stocks gained 0.4% to close at 3,973.33. Five of the 11 primary sectors ended in the negative area, with information technology climbing 1.5%. Consumer discretionary shares rose 0.8% as a collective.
Meantime, the technology-focused Nasdaq Composite Index (QQQ) advanced 1.5% to settle at 13,246.87.
A measure of indicated volatility recognised as the CBOE VIX (VXX) fell on Wednesday, reversing some of its early-week gains. The so-called “market fear index” moved an intraday low of 18.85 on a scale of 1-100, where 20 outlines the past average. It would ultimately settle down 1.6% at 19.30.
In commodities, oil prices settled on Wednesday, with U.S. West Texas Intermediate futures tumbling $1.21, or 2%, to $59.34 a barrel on the New York Mercantile Exchange. Brent, the international futures contract, fell 60 cents or 0.9% to $63.54 a barrel.
In precious metals, gold prices bounced sharply on Wednesday, as the June futures contract rose $21.40, or 1.3%, to $1,707.40 a troy ounce on the Comex division of the New York Mercantile Exchange. Silver futures climbed 30 cents, or 1.3%, to $24.44 a troy ounce.
The conclusion: U.S. stocks resume to trade near record highs, encouraged by optimism that the economy is healing from the Covid-19 pandemic. More than 30.4 million Covid cases have been listed in the United States, though the infection pace continues to decline from earlier levels.

Gold Broken Position 1719 Continues Downward 3.30

Gold Market Trend Analysis
  Gold finally broke down after continuous shocks, and it broke the resistance point after falling below the 1719 position, ending the shocking situation and starting a downward trend! 1719 did not break or stand, break the position and turn down. I have repeatedly emphasised the importance of this position. The so-called horizontal is how long and how high is vertical. Gold maintains volatility for more than two weeks. Once broken, it is a waterfall-like trend. Break the position to continue the falling market, follow the trend decisively!

  Previously, gold remained within the range of shocks, long and short, but since yesterday’s break of 1719, the market trend has changed, and you shouldn’t use old strategies to treat the current new trend. It is necessary to adjust the thinking in time and follow the trend! Today is a broken position and chooses to fall, rebound and take advantage of the trend, and the subsequent support position is the 1690 line!

  Gold, which has been volatile for many days, broke out of the US market yesterday. The long-awaited trend signal has appeared. The daily line closed overcast and fell below the support of 1719 in the daily bar. The daily 5-day moving average and 10-day moving average continued to increase in volume. Gold enters a downward mode, so next week, gold will focus on 1719 and 1725 suppression, focusing on the daily mid-track 1725 as the suppression and taking advantage of the trend to fall back. The lower target is 1700/1690.

  In today’s operation, we still focus on the high-altitude rebound. Today, gold focuses on the 1719 suppression position. After the previous support broke, the precious metal formed a resistance. Besides, the resistance position of the first rebound after yesterday’s sharp drop is also below this. The daytime relying on 1719 to suppress the rebound continues. Short, there is still a certain amount of support at the 1700 integer mark. It was also the last time that the callback was supported. However, the short-term support is challenging to change the impact of the short-term decline. It is expected that the short-term adjustment will continue to fall! Empty, the rebound below 1719 continues to be open!

  European operation idea: gold near 1715 is negative, stop loss is 1720, the target is near 1700; if the rebound is unable to continue under pressure, stop loss is at 1715, and the position is directly negative near 1708, the target is broken at 1700, and the broken 1700 rebounds by 3 dollars to continue With nothing!

USD Rises Following Biden’s New Infrastructure Plan

With the new infrastructure plan coming, the US dollar breaks through this year’s new high. Biden to expose $2 trillion, 8-year infrastructure plan

  Federal Reserve Vice Chairman Quarles said on Tuesday that a group of financial regulators would make recommendations in July to increase the resilience of money market funds and reduce the probability of receiving government aid in the future. The group will focus on money market funds and short-term funds—the relationship between markets. Besides, he also stated that investors should believe the Fed’s statement on the current inflation target, allowing inflation to be slightly higher than 2%.

  The IMF will release its global economic outlook report next Tuesday, which will raise its global GDP forecasts for this year and next. In January, it was expected to grow by 5.5% and 4.2%, respectively. The IMF warned that the outlook for the epidemic is uncertain. A small number of countries headed by China and the United States can exceed the GDP by the end of this year, while other countries’ recovery is “dangerously divided.” After the US fiscal stimulus, inflation may reach 2.5%, “but that is not a concern.”

  Some representatives of the Organization of the Petroleum Exporting Countries (OPEC) said that after Saudi Arabia expressed that the figure was too high, the OPEC+ technical expert group agreed to lower the oil demand forecast for 2021. They also stated that OPEC+ will still avoid a substantial increase in crude oil production when it meets on April 1.

  According to satellite news, the Saudi side has promised to continue to reduce production voluntarily. The Saudi side has contacted some OPEC countries, most of which hope to extend the (production reduction) agreement to May. However, the Kremlin stated that Russian President Putin currently has no plans to hold talks with Saudi Arabia on OPEC+. OPEC data shows that if the production cut is extended, the inventory in May will be reduced by 2.9 million barrels per day. OPEC expects that the oil reserve surplus will be exhausted before the end of the second quarter. The oil inventory surplus will fall to 3 million barrels at the end of the second quarter.

  The White House will probably announce a $ 2.25 trillion infrastructure investment plan on Wednesday; The Washington Post, citing two people familiar with the matter, reported that Biden would announce a $2.25 trillion infrastructure and employment support package Pittsburgh on Wednesday. The package includes approximately US$650 billion to rebuild roads, bridges, highways and ports, about US$400 billion to care for the elderly and the disabled, US$300 billion to housing infrastructure, and US$300 billion to revitalise the manufacturing Industry. In addition to the $2.25 trillion plan, the White House will also launch an approximately $400 billion clean energy loan program. Other investments include hundreds of billions of dollars for power grids, national high-speed broadband and clean drinking water. The White House will issue a second set of drafts within a few weeks, including the expansion of medical insurance and child tax deductions. The combined size of all bills may exceed 4 trillion U.S. dollars.

  Yumi Shinohara, deputy manager of the fleet management department of Zhengrong Steamship, the owner of the container ship “Nagachi”, said that the company had not received any claims or litigation regarding the blockage of the Suez Canal.

  Yields on 10-year U.S. Treasury bonds gave up most of their gains after hitting a 14-month high. The Dow fell more than a hundred points, the pan-European stock index approached its historical high set 13 months ago, and German stocks reached a new high. The U.S. dollar hit a new high in more than four months, and Bitcoin rose above 59,000 U.S. dollars in intraday trading, setting a new high in more than a week. Gold fell below US$1,700 and approached an 11-month low, silver hit a three-month low, London copper hit a new low for more than five weeks, and crude oil ended two consecutive rises and fell to more than one-week highs.

 

Considering the previous trends, where will the dollar go next?

School establishment:
   It’s the start of a new trading day. The school uses the US dollar index as the core of its predictions on international currency markets.

According to today’s disk, the performance of the US dollar index is somewhat surprising. The disk has fallen beneath the neckline of the “head and shoulders pattern” on the previous day. This technical pattern often indicates uncertainty in the markets as the longs and shorts squabble back and forth, unsure how to go.

Thinking more deeply, the market confirms that the cross star appears immediately after the neckline of the head and shoulders pattern breaks. This can only show one problem. The gap is not strong and may not have a big impact on the market. This makes the school stand. Suddenly remembered the previous performance when the market broke through the neckline of the “head and shoulders bottom pattern”, it was exactly the same, because at that time, after the market effectively broke through the head and shoulders bottom pattern, the cross star line also appeared on the second day, and now it is also out of the same situation. Will this be a remake? I believe only time can tell.

I have to say that the current US dollar is really stuck, the market has not started an effective market, and even has a trend of failure to break through, and now the US dollar has suddenly reproduced the previous scene, which makes people speechless, and believes that the market will not be too big. Quotes are given. After all, the US dollar is still dormant. It is also difficult to give a larger quote at this time.

   How to predict the next step of the dollar index? The school believes that it may be similar to the trend when the previous breakthrough occurred. In other words, the US dollar index may see some declines today, and it is also possible to produce a new breakthrough downward, but it may be temporarily for a sharp decline. No, after all, the larger pattern of the US dollar still needs to be bullish rather than bearish. The current situation is just a short-term game. It can also be seen as sweeping fluctuations in a range of shocks, since the market has been re-enacted. Part of the previous trend, then it is not impossible to continue to reproduce the follow-up trend. Because this market is a “everything is possible” market.

At the operational level, it is still based on short-term thinking, looking for opportunities to overestimate or underestimate the scum; adopt different coping strategies for different varieties, try to choose valuable points to enter the market, remember to bring a stop loss just in case, after all, the current There are still many crises in the market, and only care can make the Wannian Ship!

   EUR/USD:

  Combined with the above analysis, today Europe and the United States can actually overestimate the low scum, but combined with the market analysis, it is more appropriate to deploy a short-selling strategy on rallies today. Give the following suggestions and refer to the operation as appropriate. Weak position:

   Short selling in the 1.2180-1.2190 range, stop loss 20 points, target 1.2160, 1.2140, 1.2120.

EUR/USD

  USD/JPY:

  The second operation currency pair today, continue to choose the US and Japan. Because currently only the United States and Japan can still have the opportunity to deploy, other direct currencies have excessive behavior, but they are dangerous. Combining the board to give the following suggestions, refer to the operation as appropriate, and wet warehouse:

  Buy in the 105.15-105.25 interval, stop loss 20 points, target 105.45, 105.65, 105.85.

USD/JPY

  Gold:

   Gold is in a state of shock; gold’s liquidity has become worse and worse, meaning less and less volatility. However, the price of gold will still fluctuate. After all, gold is still the largest trading product today.

From an operational perspective, today’s gold can have opportunities for overestimation and low slag, which are around 1818 and 1796, respectively. However, considering the current potential risks in the market, we can only consider low-to-multiple suggestions today, and the market will do whatever the opportunity is. Wait and see without giving a chance, Wessang:

  Buy in the range of 1795-1796, stop loss 3 dollars, target 1799, 1803, 1808.

February 18 Financial breakfest

On Wednesday (February 17), the US dollar index hit a new high since February 8 to 91.05. Optimistic economic data and signs of rising inflation helped push the dollar higher. Spot gold fell for five consecutive days, refreshing its lowest point since November 30 last year to US$1,769.65 per ounce. The strengthening of the US dollar and better-than-expected US economic data reduced gold’s attractiveness as a haven. Oil prices rose by more than 2%, and U.S. oil and Bursa oil hit their highest points since January last year to 61.73 US dollars/barrel and 64.96 US dollars/barrel respectively. The severe cold weather caused US oil production to plunge by a record 40%.

Commodity closing, COMEX April gold futures closed down 1.5%, at 1,772.80 US dollars per ounce. WTI March crude oil futures closed up 1.09 US dollars, or 1.81%, to 61.14 US dollars per barrel; Brent April crude oil futures closed up 0.99 US dollars, or 1.56%, to 64.34 US dollars per barrel.

The three major US stock indexes closed mixed. The Dow Jones index closed up 90.30 points, or 0.29%, to 3,161,302 points; the S&P 500 index closed down 1.30 points, or 0.03%, to 3,931.32 points; the Nasdaq index closed down 82.00 points, a decrease of 0.58%, to 13,965.49 points.

Thursday preview

Time Area Index Previous value Predicted value
08:30 Australia January seasonally adjusted unemployment rate (%) 6.6 6.5
08:30 Australia January employment-population change (10,000 people) 5 3
18:00 Eurozone January unseasonally adjusted CPI annual rate final value (%) 0.9

18:00 The final value of the core CPI annual rate in the Eurozone without seasonal adjustment in January (%) 1.4 0.9
21:30 U.S. January construction permit monthly rate (%) 4.5 -1.6
21:30 U.S. Total number of construction permits in January (10,000 households) 170.9 167.7
21:30 U.S. January import price index monthly rate (%) 0.9 1
21:30 United States January import price index annual rate (%) -0.3 0.4
21:30 United States January annualised monthly rate of housing starts (%) 5.8 -0.7
21:30 U.S. Annualised total number of housing starts in January (10,000 households) 166.9 165.8
21:30 United States As of February 13, the number of initial claims for unemployment benefits (10,000) 79.3 77.3
21:30 United States As of February 6th, the number of people claiming unemployment benefits (10,000) 454.5 442.3
23:00 Eurozone February Consumer Confidence Index Initial Value -15.5 -15
00:00 AM U.S. EIA crude oil inventory changes in the week ending February 12 (10,000 barrels) -664.5

00:00 AM U.S. EIA refined oil inventory changes in the week ending February 12 (10,000 barrels) -173.2

00:00 in the morning U.S. EIA gasoline inventory changes in the week ending February 12 (10,000 barrels) 425.9

07:05 Dallas Fed President Kaplan participated in an online dialogue event hosted by the Dallas Fed to discuss the US and global economic issues

20:30 ECB announces minutes of a monetary policy meeting

21:00 Federal Reserve Governor Brainard delivers a speech

23:00 2021 FOMC voting committee and Atlanta Fed President Bostic delivers a speech

List of major global markets

The three major U.S. stock indexes” the Dow Jones Industrial Average closed at a record high, the S&P 500 closed flat, while the Nasdaq Composite Index fell; U.S. bond yields fell from a one-year high, investors weighed Economic growth and inflation outlook.

State Street Global Investment Management US SPDR ETF chief investment officer Michael Arone said that those companies whose earnings are vulnerable to inflation and cannot support their current high valuations are under selling pressure, including technology stocks. At some point, rising yields may Bringing shock, but I don’t think it’s there yet.

Precious metals and crude oil

Gold futures prices closed down for the fourth consecutive trading day, closing at the lowest level since June 2020. According to Dow Jones market data, the most active gold futures contract appeared on Wednesday for the first time since June 2018, 50%. The daily moving average crosses the 200-day moving average, indicating that the long-term price trend may be down in the future. Analysts said that rising U.S. Treasury yields are usually conducive to the rise of the dollar, both of which are bad for gold prices.

Oil prices rose by more than 2%, and U.S. oil and Bursa oil hit their highest points since January last year to 61.73 US dollars/barrel and 64.96 US dollars/barrel respectively. The severe cold weather in Texas, the largest oil-producing state in the United States, led to the suspension of oil fields in the state and abnormally cold weather. It is expected to drag down crude oil production in the next few days or even weeks.

Oil prices supported by factors such as OPEC+ supply restrictions, additional cuts in Saudi production, and hopes that new crown vaccination will lead to a rebound in demand. The historic cold weather in Texas since last weekend has further pushed up oil prices. Most of the crude oil supply in the United States comes from Texas, which is part of the major refining centres in the United States.

Due to unprecedented cold weather freezing oil well operations in the United States’ central region, the United States’ daily oil production has fallen by more than 4 million barrels. Refinery shutdowns triggered by severe cold weather have reduced U.S. crude oil demand. According to Bob Yawger, head of energy futures at Mizuho in New York, this brings us to a higher level. The price of US crude oil may reach its peak near US$65.65.

The rising prices environment has made people more concerned about OPEC+, and the alliance will meet on March 4 to formulate policies. OPEC+ sources said that given the rebound in oil prices, the alliance’s oil-producing countries might relax supply restrictions after April.

Foreign exchange

The dollar rose on Wednesday, hitting a new high since February 8 to 91.05. Optimistic economic data and signs of increasing inflation helped push the dollar higher against a basket of currencies. The dollar index rose from the three-week low touched last Friday, rising 0.40% to 90.94 in late trading. The US retail sales, industrial production and producer price index (PPI) data released on Wednesday exceeded expectations. This shows that as vaccination progresses, the momentum for the economy to recover from the pandemic-induced recession is increasing.

Marc Chandler, the chief market strategist at Bannockburn Forex, said that today’s retail sales data is not only stronger than expected but far exceeding expectations. The same is valid for industrial production data. The dollar trend started yesterday, and what we see today is a continuation. Many people are still bearish on the dollar, but there is more room for this upward trend.

The Federal Reserve released the minutes of its monetary policy meeting on January 26-27. Participants stated that they need to “be vigilant” in the light of the recent economic rebound. They also discussed the expected rise in inflation and reiterated easing policies to support the ailing job market. Nothing is surprising about the meeting minutes.

Chandler said that in general, there is not much new information in the minutes of the Fed’s meeting, and the market is looking forward to the testimony of Fed Chairman Powell next week.

Despite the optimistic economic report, US Treasury yields reversed the recent upward momentum due to weakening selling pressure. The 10-year U.S. Treasury yield fell back to 1.270% at the end of the session and was as high as 1.331% earlier in the session.

The euro fell 0.56% against the US dollar to 1.2038. The pound fell 0.33% against the dollar to 1.3857, after hitting its highest level since April 2018 on Tuesday.

During the Asian trading hours, the dollar-yen, which is sensitive to US yields, rose to 106.22, the highest since September last year, and fell back to 105.87 in late trading, down 0.16%.

In other currency pairs, the Australian dollar fell 0.09% to the US dollar to 0.7751; the New Zealand dollar fell 0.33% to 0.7191 against the US dollar; the US dollar rose 0.72% to the Swiss franc to 0.8989; the US dollar rose 0.09% to the Canadian dollar to 1.2702.

International news

[Minutes of the Federal Reserve Meeting: The conditions for reducing the intensity of QE cannot be met for “a time”] The Federal Reserve released the minutes of the January FOMC monetary policy meeting, stating that it may take some time for the US economy to make substantial progress. I am afraid that the conditions for reducing the intensity of asset purchases (QE) will not be met “for a while”. He is optimistic about inflation, but he is cautious about the labour market. Before adjusting the speed of asset purchases, it is essential to communicate with the public. The degree of improvement in the medium-term outlook has been sufficient for the Fed to adjust its views in its interest rate resolution statement.

[API report: U.S. crude oil inventories decreased by 5.8 million barrels to 468 million barrels last week] As of the week of February 12, API gasoline inventories increased by 3.9 million barrels, refined oil inventories decreased by 3.5 million barrels, and Cushing crude oil inventories decreased by 3 million Barrels; US crude oil imports increased by 26,000 barrels per day last week.

[It is reported that crude oil production in the Permian Basin in the United States was frozen due to severe cold weather. Crude oil production in the Permian Basin fell by 80%, and US crude oil production fell by more than 40% or 4 million barrels per day.]

[Fed Rosengren: It is expected that inflation data will improve overtime this year. If inflation becomes a problem, the Fed will fix it. It is estimated that inflation cannot be maintained at around 2% in the next one or two years. There is indeed a “bubble” in some parts of the market, but people are less concerned about financial stability before the economy is close to full employment]

Ramsden said that the central bank has further room to expand its bond purchase program to stimulate the economy. This statement may indicate that prominent bank officials may be unwilling to Lower interest rates below zero. Ramsden said that the Bank of England might reassess some restrictions on the bank’s purchase of British government bonds in the financial market. He said that although the central bank does not rule out negative interest rates, quantitative easing is a “tested tool.” These remarks show that although the Bank of England expects that the new crown vaccine’s promotion can lead to a robust economic recovery, the central bank does not rule out the possibility of increasing stimulus measures.

Texas bans many natural gas companies from sending energy outside the state. Texas will extend its ban on foreign natural gas sales until February 21. Texas still has 19,800 megawatts (MW) of natural gas power capacity offline, and 17,200 MW of wind/solar (000591, share bar) power capacity is still offline.

[US SEC considers increasing short-sale transparency] The Wall Street Journal (blog, Weibo) quoted a source saying that the US Securities Exchange is considering whether to increase the transparency of short-sales and private lending to the soaring share price of Game Post. Eleven years ago, the authorities asked the SEC to implement such rules, but they never realised it. Now, in response to the stock trading frenzy caused by the game station incident, the US Securities and Exchange Commission is considering increasing the transparency of short-selling transactions within its scope of authority.

Domestic news

[Securities Daily front page: Five reasons for institutions to sing more A shares, the first week of the ox year may welcome a “good start” market] The industry generally believes that compared with the past Spring Festival market, the probability of the stock market rising after the holiday this year is higher. Most institutions said that the five reasons might help A shares usher in the first week of “good start.” First of all, the market has a higher probability of rising after the holiday. Secondly, the surrounding markets continue to “rising”. During the Chinese New Year holiday, the A-share market was boosted by economic recovery expectations, and “rising” became the keynote of major global markets. Third, commodity prices have hit new highs. Fourth, the RMB exchange rate’s appreciation has made RMB assets increasingly attractive to international capital, and foreign investors favour shares. Fifth, market funds are abundant. The inflexion point of liquidity tightening that some market participants worry about has not appeared. Industry insiders believe that, in the context of the upcoming launch of larger-scale economic stimulus plans in Europe and the United States, my country does not have the basis for immediate tightening of liquidity.

Gold rose Above 1833 as expected, and resumed support at 1827.

Gold rose Above1833 as expected, and resumed support in 1827.

Yesterday, gold rose and broke high in the morning in the short-term, but the European market’s continuity is not very good.
The rapid retracement of the U.S. market is a standard technical correction. The price of an ounce still holds above the support of 1827. The author reminds us to rely on 1827 to support the defence. Directly placed multiple orders near 1833, and the subsequent rapid anti-drawing was in line with the author’s judgment, and the 1833 trades easily won profits!

The pattern of gold rebounding has not changed. Although yesterday, it temporarily broke the 1849 resistance position and then fell back, the rally has not changed. Yesterday’s retreat was also above the support of 1827. The bullish momentum is still sufficient.

Today, we continue to use 1827 as long and short. At the watershed position, the price is high above 1827. Relying on 1827 support and defence will continue to be bullish in the day. Only when price break 1827 can gold turn down, and we can change our bullish thinking. Otherwise, we will continue to do more. ! In rising, the Gold price must break the resistance! Taking advantage of the trend is by no means empty words!

From the daily line’s perspective, after the sharp drop last week, with the help of non-agricultural profit, the daily line began to rebound and rise for three consecutive years, which has swallowed up the weak pattern of the big Yin K of last Thursday. Strong operation pattern. According to the 4-hour chart, three upper shadow cross candles were closed after the disk price rose. Gold rushed to the upper rail position of the Bollinger Band and was initially under pressure. The pressure position of 1849 began to appear.
Investing too much before gold breaks through 1849 could result in a turn in the market.

We can change our bullish thinking only after breaking down to 1828. Pay attention to the 1849 area, and don’t blindly chase higher.

Today’s gold trading idea: gold 1833-35 area is directly more, support below 1827, the target is bullish 1843-1849 range; broken 1849 stepped back and more, support 1835, target bullish 1860-70 area.

Monetary easing policy supports gold prices, so the price of gold retreats over 1858 US$ area.

Monetary easing policy supports gold prices, so the price of gold retreats over 1858 US$ area.
2020-12-08 11:54:47 Hexun.com
  On Monday (December 7), gold fell to US$ 1822 and then rapidly climbed higher. Gold prices again reached a high level of US$1850, reaching a maximum of US$1868.5, an increase of 1.19%. Although the British decided not to continue the negotiations with the European Union, risk sentiment weighed on the market. Still, both Britain and the European Union have reiterated that the talks will proceed. According to the expectations of the market for the US dollar stimulus package, the decline in the stock market and worsening epidemic, and the expectation of the European Central Bank to expand its easing measures have all contributed to the sharp rise of the price of gold.

  The US$ 908 billion rescue plan developed by congressmen has received the support of Pelosi and Schumer as well as the senators, who are ready to engage in negotiations on the rescue plan on this basis. At the same time, lawmakers are also arguing about the $1.4 trillion comprehensive spending bill, which funds government operations. The bailout bill may be linked to the comprehensive spending bill.

  There is one bill in the state legislatures that will expire on the 11th of December to fund government operations. To avoid a government shutdown, the House of Representatives plans to vote on a one-week short-term spending bill on Wednesday.

  Representatives of the two political parties in the United States intend to present more details of the US$908 billion pandemic relief plan on Monday, aiming to reach consensus on measures for the aid program to be passed before Congress adjourns. Although progress has been made in aid package negotiations, McConnell has not compromised on the bailout bill.

  ④18:00 ZEW Economic Sentiment Index of Germany and Euro Zone in December

  ⑤19:00 US November NFIB Small Business Confidence Index

  ⑥ EIA announces monthly short-term energy outlook report at 01:00 the next day

  ⑦ 05:30 the next day API crude oil inventory from the United States to the week of December 4

  (Disclaimer: The above analysis only represents the author’s personal opinion and does not constitute a specific operation. According to this operation, the profit and loss are at your own risk, investment is risky, and you need to be cautious when entering the market.)

(Editor in charge: Zhang Yajie HF083)