Overnight market review At the beginning of the Asian market on Tuesday (December 27), spot gold fluctuated and rose slightly, hitting a two-day high to around US$1,804.78. The new type of coronavirus pneumonia was renamed as the new type of coronavirus infection, the centralized isolation after entry was cancelled, and the outbound travel was resumed in an orderly manner. This has improved the market’s risk appetite and suppressed the safe-haven demand for the US dollar. The US dollar fell to a new low in three trading days, providing support for gold prices, and the continued geopolitical situation between Russia and Ukraine also provided support for gold prices; Annual gold prices are expected to rise.
In the short term, investors still need to pay attention to the negative impact of U.S. bond yields. Last Friday, the U.S. 10-year Treasury yield rose to a near four-week high, making gold bulls apprehensive; and European Central Bank officials said that further interest rate hikes will be made in the future .
Last weekend was Christmas, and there are relatively few economic data and risk events this week, so the overall market trading may be subject to certain restrictions.
Trading strategy suggestion: high short
All transactions involve risks, and the above analysis is for reference only. Be sure to set the number of hands and remember to set a stop loss when placing an order.
