Weekly

Today's volatility range:

The yield of U.S. 10-year treasury bonds rose above 1% this week. The market was worried that weak employment data might affect the monetary policy of the new government. On Friday, gold prices plunged and the US dollar index returned to strength, which was unfavorable for gold in the short term.

Today's volatility is expected to be between $1823 and $1851.

Last week, the World Bank released the Global Economic Outlook report in January 2021. The report pointed out that due to the global pandemic of the new pneumonia epidemic, the growth of economic activities and income in the past year was suppressed for a long time.

However, it seems that the global economy has entered a state of moderate recovery, and the global economy will shrink by 5.2% in 2020 to 4.3%, and it is predicted that the global economy will grow by 4% in 2021. However, the World Bank also warned that the global economic outlook is still uncertain.

Once the government fails to effectively curb the spread of the epidemic and implement policies to promote investment, the recovery may be slow and weak. If this happens, the global economic growth may be limited to below 1.6% in 2021.

The United States finally confirmed the results of electoral votes in Congress on January 7th, and finally confirmed that Biden won 306 electoral votes, officially declaring himself the next president. On the same day, the results of the Senate election in Georgia were revealed, and the Democratic Party of the United States won two seats.

The Democratic Party and the Republican Party have half of the Senate seats at the same time, which means that the Democratic Party of the United States will control the White House and the Senate and House of Representatives in the next four years, remove all political obstacles, and implement the Party's philosophy to govern. While the political situation in the United States has returned to stability,

The market expects the new government to launch a larger fiscal stimulus plan, and the US dollar index rebounded from a two-and-a-half-year low to 90 points. The yield of 10-year treasury bonds rose above 1% this week, the highest level since March 2020.

In addition, the number of non-agricultural employment in the United States announced on Friday decreased by 140,000 jobs, which was significantly worse than market expectations. The market worried that weak employment data might affect the new government's monetary policy, and gold suffered a liquidation, from Wednesday's new annual high of 1960 US dollars per ounce.

Straight to the lowest of $1,828 per ounce, the volatility reached $132 per week, and finally closed at $1,849 per ounce, with a total drop of $49 per week.

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