Weekly

The Bank of Japan continued to rescue the market. After the meeting, it announced that it would further expand its monetary policy and purchase unlimited quantities of Japanese government bonds, which would benefit the atmosphere of the big market. Funds flowed out of the safe-haven market and gold prices fell for two consecutive days.

The Bank of Japan announced that the benchmark interest rate would remain unchanged at minus 0.1%, but increased the amount to replace the current target of buying 80 trillion yen of bonds. The Bank also pointed out that if the new crown pneumonia epidemic spreads,

Japan's economy will need more stimulus measures and consider providing further support for small businesses. In the Italian market, the US dollar index has dropped from a high level to the 100 level mark in the early period, and has hovered around this mark repeatedly since then.
 
Gold prices also fell simultaneously, with capital flowing out of the safe-haven market and oil prices plunging again yesterday, dragging down the performance of the overall commodity market.  Technically, the high price of gold has not broken through.

Asian markets have the opportunity to further test the support of US$ 1702, even the psychological level of 1,700, which must be maintained before gold prices can stabilize again.  But if this level falls again,

The downward channel will be extended and the target is expected to reach 1680 US dollars.
 
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