Weekly

Gold prices hit a 7-year high on schedule and stabilized after breaking the 1700 mark. The next target will challenge the 2012 high of 1768.  A global recession is inevitable.

In addition, fearing that the performance of American enterprises will be reflected one by one, the demand for safe haven has stimulated the market's desire for gold to enter the market. Countries have cut interest rates one after another, keeping interest rates low and QE unlimited.

It also reduces the cost of gold holders.  Following the resumption of trading on Easter weekend, new york gold futures surged to 1,761 US dollars on Monday, a new closing high since October 11, 2012.

Spot gold rose more than US$ 40. After stabilizing in the early period, it broke through sharply at night and rose to US$ 1723 for respite.  The $2.3 trillion rescue plan launched by the United States last Thursday,

I believe it will still stimulate the demand for safe haven in the market, and gold prices are expected to continue to stabilize and challenge the high level step by step.  Another focus of the market is Russia's agreement with the oil group to cut production.

It is expected to reduce production by 20 million barrels, which will also support oil prices in the short term.

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