Weekly

February 22 nd

Today's volatility range:

Last week, the gold price finally repeatedly tried the low of 1764 in November last year, and the worst hit the bottom of 1760 US dollars per ounce on Friday, and then rebounded, but the basic analysis of the current situation is not conducive to gold.

Conservative funds flow into the bond market, venture funds are invested in the stock market and even the cryptocurrency market, while the US dollar exchange rate continues to be strong, inflation is sluggish in the US labor market and it is difficult to push up. The gold price may still be subject to the 1800 level.

Until Biden's $1.9 trillion stimulus plan came out. Today's suggested volatility is between 1772 and 1795 US dollars, with 1779 as the watershed, falling below the chase.

The global COVID-19 epidemic continues to ease, with an average of 64,000 new cases of new crown virus infection every day in the United States, which is the lowest record in half a year. The White House said,

The number of novel coronavirus vaccines distributed to every state will increase to 13.5 million doses per week, and the number of vaccines supplied to pharmacies in various places doubled to 2 million doses last week. Biden reiterated that he can fulfill his election promise,

During his first 100 days in office, he achieved the goal that 100 million doses of vaccines could be vaccinated nationwide. After Pfizer /BioNtech, Mardner and AstraZeneca, which have successfully obtained emergency authorization,

Johnson & Johnson, an American pharmaceutical company, applied to the EU drug regulatory agency for a single dose of COVID-19 vaccine, which is expected to be approved for use as soon as possible in mid-March. More than 15 million people in Britain, about 22% of the population, have received the first dose of vaccine.

British Prime Minister Johnson described it as an important milestone. In Britain, the number of new cases less than those infected with COVID-19 dropped by 60% yesterday. Johnson plans to announce the timetable for relaxing anti-epidemic measures this week.

Investors are eager for economic recovery. Most of the external stock markets were made last week. In Europe, except Germany, the DAX index fell by 0.82%; France's CAC index is stable and Britain's FTSE 100 index is up 1%. In America,

The Federal Reserve announced the minutes of the meeting on interest rates at the end of last month. The records show that the current economic situation of the United States is still far from reaching the long-term goal, and it will maintain a loose monetary policy until the goal is achieved. There is no "receive water" signal.

Traditional enterprises continue to be sought after, and the Dow Jones index has risen for three consecutive days and reached a new high, rising about 1% a week; Affected by the decline in technology stocks, the Standard & Poor's Index fell 1.3%; Nasdaq index fell 0.76%. The epidemic situation continues to improve,

Investors are looking forward to the economic restart. International oil prices have reached a high level since January last year. London Brent oil in April rose by 1.4%, and new york oil also rose by about 1%, rising to US$ 60 per barrel, which is the first time in 13 months that it has reappeared with 6 prefix.
 
After entering the Year of the Ox, the gold price did not perform well, which was mainly affected by the news of economic recovery, which weakened the attractiveness of gold. However, the US dollar strengthened, the US dollar index once rose above 91 points, and the yield of US 10-year government bonds rose to 1.331%.

It hit a new high in one year, further suppressing the performance of gold price. In addition, Bitcoin was super strong last week, and it once rose above $58,000 each. The funds were attracted to bet on the cryptocurrency market, which is another reason for the sluggish gold price.

Last week, the price of gold tried to be $1,760 per ounce, and finally closed at $1,784 per ounce. In the whole week, it fell by $40.

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