Weekly

The dollar continued to strengthen, the yen tumbled more than 100 points to a near nine-month low, and the euro weakened across the board.

Gold prices rose above their high of 1611 at the start of the year to a new seven-year high. Despite the good performance of the us dollar and us stocks, gold prices will continue to challenge the high in the future.

The early rally in the gold price has been repeated, and after stabilizing at 1600, the gold price has tested its early 1611 high. But the inability to break through, the market is looking forward to China to rescue the market, resulting in a greater shock to the market.

The market is looking forward to the central government to save the market, early in the dow Jones industrial average futures rose, the dollar is stable, gold is also positive. This morning, the national interbank lending center authorized by the people's bank of China announced that

The 1-year market quoted interest rate for loans is 4.05%, with A monthly decrease of 10 points. For more than 5 years, it is 4.75%, with A monthly decrease of 5 points, stimulating the a-share market to rise.

After reaching 1611 earlier in the day, gold failed to rise further and began to pull back. In the evening, gold experienced a period of softening and the monthly PPI rate in the us rose by the largest amount since March 2019.

Gold fell back to $1,602 before the fed's rate-setting record for the previous month.

Late at night, the federal reserve released minutes from its rate-setting meeting at the end of January this year, in which fed members agreed that the threat of a new outbreak of pneumonia required close attention,

The current outbreak has created uncertainty about the outlook. Although there is no clear need for interest rate cuts, there is also caution about the economic outlook. Interest rates are expected to remain low for a long time.

Gold prices stabilized again late at night. The three major U.S. stock indexes also continued to hit new highs, with the dollar in hot demand and the yen down more than 100 points, a rare move in recent years. The euro has fallen to the 1.08 mark;

Dollar believes in the short term has the possibility of 100, euro, yen, commodity currency short-term trend is not optimistic.

But despite a stronger dollar, enthusiasm for gold has not waned. I had expected that the people's bank of China would cut interest rates to stimulate the economy.

In fact, with the exception of China, almost all the top 10 industrial countries are under pressure to cut interest rates in the short term, which has reduced the cost of holding gold, reduced the purchasing power of silver paper and highlighted the value of gold.

This supports the medium-term rally in gold prices. Technically, gold's breakthrough early in the week had been confirmed as a medium-term rally, but after hitting the psychological $1,600 barrier and testing to the highs of the year,

Began to appear consolidation demand, high did not see continued buying immediately pushed up, gold prices should be back to buy, do not use the high market to chase the goods.