Weekly

Last week, the price of gold rose first and then fell, and it opened at the beginning of the week. Because the situation in the Middle East did not deteriorate, it fell first, but the decline was limited. The price of gold broke through the 2700 mark, and many people in the market expected that the level of 2800 would be realized soon, so bargain hunting appeared.

It had been strong before the middle of the week, and rose to a historical high of 2790 on Wednesday, only one step away from the 2800 mark. However, the ADP announced by the United States on Wednesday night was extremely strong, with a high report of 233,000 people, continuing the non-agricultural strength in September, which once convinced the market that the labor market had not weakened, so the gold market was unable to move up;

On Thursday night, it turned around and fell, and the lowest fell to 2731 before it stabilized.

On Friday night, the non-agricultural sector unexpectedly weakened, with an increase of only 12,000 people, far less than expected. Affected by the data, the probability of another 0.25% interest rate cut in the United States this week rose to 100%, and the gold price surged to 2761, but it did not hit a new high. The unexpected decline in non-agricultural production this time was mainly affected by the news of typhoons and strikes, not the deterioration of employment situation, thus limiting the increase; The price of gold even fell back.

Looking forward to this week's Super Week in the United States, there will be a presidential election in the middle of the week, and the market is more concerned about whether the result will be obtained on Wednesday, followed by the Federal Reserve's interest rate meeting postponed due to the US election, and the result will be announced at 3 am on Thursday.

It is widely expected that Trump will return to the White House and the Federal Reserve will cut interest rates by 0.25%. However, if the election competition is fierce, I believe that trump trade in the past six months will be greatly withdrawn and the market situation will be affected. In addition, Europe and the United States will switch to winter time this week, and the opening and closing of the market will be delayed by one hour. The market situation is a bit different, so let's refer to each other.