Weekly

The market bottom is still weak

2023-08-04

August 4 th

Today's amplitude interval

The gold market lacks direction, and investors wait for the non-agricultural figures tonight before judging the direction of entering the market. The price of gold fell below the upward track established in June and failed to

Hold $1,942, forming a bottom-top reversal, and the trend is still weak for the time being. Today, the volatility of yesterday's proposal is kept at $1925 to $1940.

The weakness of Hong Kong stocks has not changed, and Hong Kong stocks have fallen for three consecutive days. China's National Development and Reform Commission once again proposed a plan to revitalize domestic consumption, but it was not specific.

Careful, the market is worried about the improvement of the central government, which is only a slogan of reform in style, rather than the implementation of real stimulus policies. The RMB fell to a low this week, and Hong Kong stocks

It opened 113 points lower and investors lacked direction. The Hang Seng Index opened 108 points lower to close at 19,420 points, down 97 points or 0.49%. The Bank of England followed the Federal Reserve yesterday.

And the European Central Bank, announced that a 25-point rate hike was in line with market expectations. The Bank of England expressed its expectation that the tightening policy would play a role and make profits.

The rate will remain rampant for a longer period of time, but it still guarantees the policy guidance of raising interest rates. The three major European stock markets continued to fall, and the German DAX index fell by 0.79.

The CAC index in Paris fell by 0.72%, while the FTSE 100 index in Britain fell by 0.43%.

Credit rating agencies downgraded the credit rating of the United States, and investors' diversification of investment risks triggered a decline in global stock markets. The US dollar index returned to 102 points, and the United States

Ten-year treasury bonds are also sought after, with a yield of nearly 4.2%; The trend of US stocks continued to be sluggish. The three major stock indexes on Wall Street fell across the board, and the Dow Jones index fell by 0.19.

%, the Standard & Poor's 500 Index fell 0.25%, and the Nasdaq Composite Index fell 0.01%. The gold market lacks direction, and investors wait for the non-agricultural figures tonight.

Judging from the direction of entering the market, the price of gold fluctuated less than $5 all day, and finally it was close to flat. The highest price of gold was $1938.9, and the lowest price was $1929.6. Finally,

It closed at $1934.2, down $0.5.

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