Weekly

September 1 ST
 
Today's volatility range:

The gold market fell first and then rose yesterday. European inflation data beat expectations. The euro rose to 1.184 against the US dollar, but the gold price settled in US dollars was still under pressure. The reason was that China withdrew its troops in Afghanistan one day earlier.

Risk aversion has cooled down, and if there is no further change in geopolitics in Afghanistan, it has been fully reflected here, and there will be no further impact on gold prices. The Federal Reserve is still concerned about the impact of the mutant virus on the performance of the job market, delaying the pace of raising interest rates.

The market also observed this week's non-agricultural data. Tonight, small non-agricultural data was released. According to the average survey of economists, 613,000 new jobs were added. Such data will support the Fed to reduce this year

The act of buying debt, and vice versa. Yesterday, the price of gold was tried at $1,800, but there was obvious support. Today, we may try again at the high level at the end of last month. The suggested volatility is between 1804 and 1823.

China's economy has obviously slowed down. The National Bureau of Statistics announced yesterday the purchasing managers' index of manufacturing in August, which was worse than expected and fell to 50.1 month by month, the lowest since the COVID-19 outbreak in February 2020. Non-manufacturing industry in the same period

The index reported 47.5; The composite purchasing managers' index also fell to 48.9, which also fell below the dividing line of 50. On the last trading day of Hong Kong stocks in August, there was no fear of the deterioration of the domestic economy, and the high-tech stocks whose regulatory turmoil was suppressed continued to rebound.

Hang Seng Index rose 1.33% to close. After Germany announced the reconciliation of the consumer price index the day before yesterday, France also announced the same data yesterday, up 2.4% year-on-year, which is also greater than the 2% economic growth indicator allowed by the European Central Bank

Above all, the annual rate of consumer price index in the euro zone as a whole has increased to 3%, which is far better than the average expected 2.7%, and has reached a 10-year high. Strong data caused the euro to rise against the US dollar yesterday.

 
The European Central Bank will hold a meeting on September 9th, but some members said that considering the inflation risk, the European Central Bank should reduce its anti-epidemic assistance program and support the slowdown in purchasing European debt in the fourth quarter. European stock markets are under pressure from water harvesting,

The three major European indexes all reported declines, and the German DAX index fell 0.33% yesterday; The CAC index in Paris, France fell by 0.11%; Britain's FTSE 100 index fell 0.40%. Last week, Federal Reserve Chairman Powell released pigeons at the annual meeting of global central banks.

It is said that the variant virus is still an unstable factor threatening the economic recovery of the United States. Last night, the United States announced the August Consumer Confidence Index of the Sub-Committee, which fell for two months to 113.8, a drop of more than the expected 124, showing that consumers

I am also worried that the epidemic will bring instability to personal income, and I have a pessimistic view of the future, which may reduce spending in the future, which will weaken the motivation of American recovery. The three major indexes on Wall Street saw losses across the board yesterday, and the Dow Jones index fell

0.12%； The S&P 500 index fell 0.11%; Nasdaq index fell 0.04%.

 
The gold market fell first and then rose yesterday. European inflation data beat expectations. The euro rose to 1.184 against the US dollar, but the gold price settled in US dollars was still under pressure. The reason was that China withdrew its troops in Afghanistan one day earlier and its risk aversion cooled down.

The price of gold fell repeatedly in the early period, with the lowest price falling to $1,802. However, after entering the US market, the US announced that the consumer confidence index fell for two consecutive months, and the price of gold turned upward, reaching the highest price of $1,819. However, the market is still observing the non-agricultural data this week.

The gold price failed to stabilize at a daily high, and finally closed at $1814, up $4.

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