Weekly

Today's volatility range:

Gold was greatly reduced by vaccine news, while the US dollar continued to be weak, and the US dollar index once fell below 91.7 points. Central banks around the world implemented quantitative easing, and under the environment of sustained low interest rates, after the vaccine news was digested,

Investors will eventually return to the gold market to fight inflation and currency depreciation with gold, which is still worth investing in the long term. There are big fluctuations in the gold of the US presidential election, and long-term technical investors can enter the market for $1,764. Today's major volatility is $1775 to $1792.

Focus on non-agricultural data

As the results of last week's US election became clear, Giuliani, a personal lawyer of US President Trump and former mayor of new york, said that the campaign team decided to withdraw the lawsuit against Michigan's controversial voting results. And in Pennsylvania,

The Supreme Court of Appeal also rejected the lawsuit of President Trump, saying that Trump's election team had no real evidence of voting fraud. Trump has always stressed that the votes of every legitimate voter should be counted, not illegal votes.

Therefore, he denied losing the election, but pointed out that if voters choose Biden on December 14th, the national voter polling day, he will leave the White House. On the other hand, Murphy, director of the US Federal General Services Department, has written to Biden of the Democratic Party.

Admit Biden as an "obvious winner" and inform him that he can formally start the transition work. Biden also began to organize his administration team. It is said that Biden will nominate former Federal Reserve Chairman Yellen as the US Treasury Secretary.

When Yellen was the chairman of the Federal Reserve Board, she was a dove and always called on the government to increase fiscal expenditure to promote economic recovery. Similar to the idea of the Democratic Party of the United States, it is expected that after taking office successfully, a larger post-epidemic economic stimulus plan may be launched.

Last week, after Pfizer and Moderna published the third phase clinical trial report, AstraZeneca, a British pharmaceutical manufacturer, also announced last week that the third phase test of COVID-19 vaccine jointly developed with Oxford University had been completed. The experimental results showed that,

The effective rate of their vaccine can reach 70%, and the effective rate of the procedure of supplementing two consecutive full doses is only 62%, while the effective rate of the procedure of first inoculating half dose and then inoculating one whole dose is 90%. In addition,

The pharmaceutical company "Regenerator", which once provided "antibody cocktail therapy" to US President Trump, issued a statement saying that it had obtained an application for emergency use authorization from the US Food and Drug Administration for its SARS-CoV-2 antibody therapy.

According to reports, Trump promised earlier that if he applied for emergency authorization, the government would provide the initial dose to the American people free of charge. Experts estimated that the antibody drug of Regenerator could be launched before the end of the year at the earliest.

With the news of vaccines coming out one after another, the election results became clear gradually, and with the success of the external stock market, gold, which is regarded as a traditional investment tool, continued to be under pressure. The price of gold was adjusted downwards last week, reaching a minimum of $1,778 per ounce, and finally closed at $1,787 per ounce.

It fell by $93 throughout the week. Although gold is temporarily suppressed by vaccine news, under the environment of quantitative easing by central banks around the world and sustained low interest rates, investors will eventually return to the gold market after the vaccine news is digested.

Using gold to fight inflation and currency depreciation is still worth investing in the long term. The US dollar continues to be weak, and the US dollar index has fallen below 92 points, which is already a favorable factor for gold. In addition, the non-agricultural data released by the United States on Friday in November has attracted much attention, and the market estimates that there are 500,000 new non-agricultural jobs.

It is lower than the 638,000 in October. If the employment data in the United States is really poor, it will be another support for the gold market. Last week, the virtual currency market plunged, and the market rumored that US Treasury Secretary Mitchin planned to introduce new rules to supervise self-managed cryptocurrency wallets.

Financial institutions are required to verify the identity of the holders and collect the information of both parties and wallet holders. This rumor deviates from the wide range of virtual currency and the original intention of borderless transaction, and may increase the risk of stealing virtual currency, and may further stifle the application of cryptocurrency.

Bitcoin fell to about $16,200 per piece last week, closing at close to $17,100 per piece, with a drop of 9% and expected to rebound.

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