1. First of all, let's analyze the news: 12 In August, Fitch, an international credit rating company, unexpectedly adjusted the outlook of the US national credit rating to? Negative? .
Based on the above adjustment reasons, Fitch believes that the credit of the United States, as the world's largest borrower, is threatened by the increasing huge deficit of the federal government. The above decision reflects the continuous deterioration of the US public finances, and the US fiscal consolidation plan is not credible.
Industry insiders predict that Fitch's adjustment may lead to the depreciation of its dollar. In addition, the downgrade will also affect the attractiveness of US Treasury bonds in the market, thus threatening the reserve currency status of the US dollar. ?
2. Xu Yaxin said that due to the impact of the epidemic on the real economy, the uncertainty of the US economy in the future led to the continued suppression of the US dollar index by selling. In addition, because the yield of 10-year US bonds is already at a historically low level, once it rebounds, it will naturally lead to a sharp drop in gold from a high level.
3. Reasons for the plunge:
Since August, gold has broken through a record high of 20 1 1, resulting in all short positions losing money, closing positions one after another, even some backhand bulls, and a large number of retail investors chasing up, forming a skyrocketing gold bubble. In this context, many institutions have cashed in and formed a recent technical callback.
Many professionals say:
DailyFx strategists pointed out that the rebound of the US dollar and the rising risk will depress the price of gold. The price of gold has risen by more than 14% in the past three weeks, and it is now entering a consolidation period. Last week, gold trading attracted a lot of quick money, and it is expected that after clearing speculative positions, the price of gold will usher in a more balanced rise. ?
Singapore uob pointed out that the preliminary data of CME gold futures showed that traders added nearly10.2 million open contracts on Monday, reversing the downward trend for three consecutive days. The increase in open contracts implies that the price of gold will further fall in the future, with the potential target around the level of 1980 USD. ?
Investment is risky, so be careful when entering the market!
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