Weekly

Last week, the focus of the market was originally on the performance of the US labor market, but the British debt was brewing a foreign exchange crisis, and the pound fell to a one-year low. The market was worried about the recurrence of the 1976 debt crisis, and funds flowed into the safe-haven market, including the US dollar and gold. Therefore, this week, the US dollar and gold showed an upward trend simultaneously.

At the beginning of the week, the market resumed normal trading in a strong holiday atmosphere. As the US labor market is expected to remain strong, gold was sold in advance. Traditionally, November and December are Thanksgiving and Christmas holidays, and the booming retail market will drive the labor market data. It is expected that the non-agricultural sector will perform well, and the gold price will be pressed to $2,614.66 in advance.

After the period, it improved step by step. Although both non-agricultural and small non-agricultural industries performed well, funds continued to flow into the gold market to hedge, and the price of gold rose for four consecutive days from Tuesday. British debt fell for five consecutive days last week, with the 10-year yield hitting a new high after the 2008 financial tsunami and the 30-year yield hitting a new high in 98 years.

The market has lost confidence in the British government's control of national debt and inflation, and the ratio of debt to GDP has reached a new high since the 1960 s. Investors must hedge against this. And transfer funds to safe-haven markets such as the US dollar, US debt and gold. On Friday, after the strong non-agricultural data was once suppressed to $2,664, the gold price was again sought after by funds, rising to a maximum of $2,697, approaching the 2700 mark and closing at a high level.

Looking forward to this week, the British debt crisis is still fermenting. On the other hand, Trump's upcoming appointment is also the focus of the week. In terms of data, you can pay attention to the CPI in the middle of the week and the retail data of the next day. The gold price has destroyed the double-top pattern in the short term, and there is a chance to challenge the previous wave top again. However, the British debt crisis will make the market situation fluctuate rapidly, so we can pay attention to the market entry position and grasp the short-term operation space. The market situation is a bit different, so let's refer to each other.