Weekly

May 10 th
 
Today's volatility range:

The price of gold finally rose above $1,800 last week. It is expected that Biden's $4.1 trillion economic stimulus plan will be favorable for Congress to pass after the employment growth slows down.

However, the Federal Reserve Bureau hinted that it would not raise interest rates to cope with inflation in the short term, and the Taiwan Strait issue made Sino-US relations more tense, so the gold price could still be seen as higher, and the target of $1,848 in the next stop remained unchanged.

Today, the proposed amplitude is between 1818 and 1840.
 
 
After the variant virus flowed into the local community, there were crowds in many testing centers last week, but the Secretary for Food and Health, Chen Zhaoshi, said on Friday that there was no large-scale outbreak of the variant virus in the community.

According to the expert group's suggestion, people who have been vaccinated with two doses of Covid-19 vaccine for 14 days can be given a shorter quarantine period. As for overseas arrivals who meet the same conditions,

According to the risks in the countries and regions from which they left, the quarantine period after arrival in Hong Kong can also be shortened by 14 days at most. However, Shenzhen, which is next to Hong Kong, obviously does not trust it

In response to the epidemic situation in Hong Kong, the entry quarantine measures of Hong Kong people were tightened immediately until 14 days of quarantine and 7 days of health management for their home office, slapping Secretary Chen.

 
After the May Day holiday in the Mainland ended, although Beishui returned to Hong Kong stocks again, the epidemic still plagued Hong Kong's economy. The Census and Statistics Department announced the GDP forecast for the first quarter of this year last Monday.

The budget increased by 7.8% over the same period of last year, but a spokesman for the Census and Statistics Department added that the epidemic continued to hit individual economic sectors, and the overall economic activity was still lower than that before the recession. Hang Seng Index closed down 0.40% a week.

The epidemic situation in Europe is slowing down, and vaccination programs in more European countries are progressing satisfactorily. Last week, the European Union formally recommended that member States allow visitors with "vaccine passports" to enter the country.

And take advantage of the golden period of summer vacation to promote the recovery of tourism, and the market looks forward to the reopening of European economy. The Bank of England announced the interest rate decision last Thursday, which remained unchanged at 0.1%.

Bank of England Governor Bailey said at a press conference that the Bank of England has no new ideas for withdrawing from quantitative easing measures, and it is not an appropriate time to talk about reducing the purchase scale of British government bonds.

Two factors are good for the stock market. The three major European stock markets have risen across the board. In one week, the DAX index in Frankfurt, Germany rose by 1.74%, and the CAC in Paris, France rose by 1.85%;

Although there are still bombs of Scottish independence referendum in Britain, it still rose by 2.29%.

 
In April, the price of gold repeatedly challenged the 1800 mark, but it failed to return. Last Monday, it was unveiled by the speech delivered by US President Biden in Congress 100 days before he took office. At the meeting,

Biden proposed an economic stimulus plan for infrastructure and education amounting to 4.1 trillion US dollars. Last week, the US budget showed strong strength. It is expected that inflation will cause the US dollar to fall below 91 points, and the gold price will rush to 1,798 US dollars and then turn back again.

During the period, there was a short story, which was related to the interest rate hike speech of U.S. Treasury Secretary Yellen, and the gold price heaven and hell turned around, forcing the gold price to return to $1,770. However, the small non-agricultural industries in the United States detonated the gold price.

The price of gold finally broke through the psychological barrier of $1,800 and rose for three consecutive days. On Friday, the number of non-farm payrolls in the United States increased by only 266,000, far below the average of nearly 900,000 expected by the market.

The unemployment rate announced later also disappointed the market, with a figure of 6.1%, which was not as good as expected, and even turned around and rose compared with March! Gold rose to a peak of $1,843 last week and closed at $1,831.

It rises by $59 per week and $16 per day.

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