Weekly

February 1 ST

Today's volatility range:

The US dollar is soft, which can drive the price of gold to rise. However, the killing of predators by cannibals on Wall Street can only have short-term effects, especially in the bulk commodity trading market. However, there are non-agricultural data this week, so it is not appropriate to catch up.

Moreover, the price of gold is obviously still subject to the resistance level of $1,864 per ounce, and it is expected that it will still go up and down today. It is suggested that today's volatility should be between 1840 and 1865 dollars.

Last week, European Central Bank President Lagarde repeatedly mentioned that the European Central Bank will closely monitor the euro exchange rate. Followed by the European Central Bank Management Committee member, who is also the Governor of the Dutch Central Bank, Crash Hanergus Export Technology,

Said that the central bank has tools such as interest rate cuts to prevent further appreciation of the euro, and some Committee members opposed it, saying that the European Central Bank has other tools to use.

For example, buying bank bonds and putting emergency aid funds in appropriate investments can still stimulate inflation moderately. The euro rebounded from its low level. The Federal Reserve announced the results of the second interest rate decision last week. As expected by the market,

Keep the interest rate unchanged from 0% to 0.25%, and keep the scale of quantitative easing unchanged, that is, continue to buy at least 120 billion US dollars of bonds every month until it can stimulate the US economy, reach the maximum employment level and stabilize inflation at 2%.

After the meeting, Fed President Powell continued to release pigeons after the meeting, saying that he would not collect water too early, and the Fed would use all tools to support the economy. On the other hand, the U.S. gross domestic product grew by 4% in the fourth quarter.

Although it meets market expectations; However, they all regressed by 3.5%, recording negative growth for the first time since 2009 and setting a new low since 1946. The dollar weakened.

Last week, there was an incident of cannibalism killing predators on Wall Street in the United States, which was related to the fact that Gamestop (GME), a video game seller listed in the United States, was impacted by the rise of free games provided by the Internet in recent years, and its business table was not as good as before.

In the short-selling institutions, the report has ruined the prospect of GME, but this move has detonated the online discussion forum. The indignant netizens have special feelings for GME and have called on retail investors to enter the market to buy GME shares together.

Against the short-selling GME investment institutions, as a result, the stock price even rushed to a new high against the sky, and retail investors won a temporary victory. The incident attracted worldwide attention, and even Musk, the founder of Tesla, the richest man in the world, frequently tweeted about it.

And slow down the actions of retail investors. While retail investors extended their stocks to precious metals in the online discussion forum, some netizens called for buying silver, and the price of silver soared, which drove other expensive metals, and the price of gold bottomed out from $1,835 per ounce.

The highest rose to $1,876 per ounce, but it ended up closing at $1,848 per ounce, down $8 for the whole week.

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