US Dollar And Gold Shared Risk Aversion Goes Hand In Hand

Although the US consumer confidence index of Michigan University in January was higher than expected, it hit a new high in January 2004, which did not change the momentum of gold.

After the announcement, the US dollar index rose to 93.21, and the gold price was not to be outdone. It broke 1280 integer.

Although the US dollar index and gold fell respectively in the subsequent trading, gold was more powerful than the US dollar from the K-line, which remained above 1275 at the subsequent time, while the US dollar fell below 93.

Everywhere, the precious metal market is singing and dancing.

Overnight gold prices easily break through 1256 key resistances, and one drum is on the 1265 level, while Friday night makes every effort to break through 1280, and the future is bright, with the momentum of 1300 next week.

Interestingly, platinum premium for gold has been at a low level for some time, and the gold price of spot gold is higher than platinum price of about $7, driven by risk aversion. On Friday, the London Metal Exchange gold fixed price was $1277.50, while the platinum price fixed platinum announced an hour ago was $1262.

The staggering action by the Swiss central bank overnight was slaughtered in the foreign exchange market, not only investors but even foreign exchange traders, the stock price fell over the whole line, the value of Fuhui evaporated more than 85%, the share price of Jiasheng fell more than 20%, Fuhui has begun to seek external aid.

This also reveals some of the original "inhumane" insider, for traders, if the position can not be hedged inside the platform, it is necessary to inquire to the bank, buy or sell a large number of spot goods, and traders without bank funds as background are fragile at this moment.

By contrast, the proprietary trading platform of Sheng Bao bank appears to be much more reliable. It is said that after this incident, customers of the bank's trading platform surged.

The Swiss central bank has been criticized by many parties.

The outside world has criticized the rating of the SNB.

Although its motives are quite clear, the way it adopts is too radical, or underestimates the series of reactions brought by market turbulence.

Shortly after the announcement, gartmann denounced it as "the worst decision" and said it would cause huge losses to market participants. Later on, IMF chairman Lagarde also said that the SNB had not communicated with her before making a decision.