Weekly

The problem in the border area between China and India has worsened again. The two sides accused each other of provoking each other first. The Chinese side pointed out that it did not build facilities beyond the national border, while India pointed out that China constantly made military reforms.

It is Si Mazhao's heart to develop, operate and deploy defense in sensitive areas, which shows that India is ready to respond with military force. On the other hand, the Indian government once again announced that,

Another 118 Chinese mobile phone applications are banned, which means that these applications endanger India's sovereignty and integrity, India's national defense, national security and public order. This is the third time India has announced the ban on Chinese mobile phone applications.

TikTok is the first time. India is a nation that loves singing and dancing culture. TikTok is exactly what it likes, but the people still unite and immediately abandon it, which is a manifestation of the spirit of unity and fear of foreign aggression. India wins the economic war first.

Yesterday, the International Monetary Fund published an interesting report, that is, the global central bank's purchases in the past July. The report pointed out that the central banks of various countries only bought 8.2 tons of gold in total.

It is the lowest net purchase since December 2018. According to the survey of the International Monetary Fund, there were seven central banks that increased their holdings of gold in July, of which Turkey was the most active and acquired 19.4 tons of gold;

Eight central banks reduced their gold holdings, including Uzbekistan, which sold the most 11.6 tons of gold, Mongolia, which had reduced its gold holdings for three consecutive months, sold 6.1 tons more in July, and Germany, a larger economy, also reduced its gold holdings by 0.5 tons.

However, the report added that although the purchase volume in July was not as positive as before, the net purchase volume of global central banks has exceeded 200 tons of gold since January 2020.

In the old gold standard era, all central banks used the amount of gold stored as the guarantee for the country to issue banknotes, and the amount of gold stored by the central bank was also an indicator of the strength of the country's economy. However, after the financial tsunami in 2008,

The central banks of all countries have saved the market with quantitative easing policy, and the gold reserve is no longer the guarantee for issuing money, so the gold standard exists in name only. However, it is still the only way for the central banks to purchase gold for stabilizing the national economy, and gold still has its investment value.

Last night, the United States announced that 881,000 people applied for unemployment benefits for the first time in the United States last week was better than expected, which was also the lowest since March. However, institute for supply management's non-manufacturing purchasing managers' index of 56.9 was worse than the expected 57.

Combining the two data and the changes in the number of non-agricultural employment announced at an early date, the number of employed people in the United States has improved, but the recovery momentum is still slow, resulting in a downward adjustment of the US dollar index from a high of 93.1 to 92.7 again, but it still increased from the previous day.

The gold price fluctuated within a narrow range due to the trend of the US dollar index yesterday, with the highest value at 1951 US dollars per ounce and the lowest value at 1921 US dollars per ounce, and finally closed at 1931 US dollars per ounce, down by 12 US dollars.

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