Gold and silver repeated shocks

Quotes review: Spot gold opened at 1719.80 yesterday, the highest 1737.10, the lowest 1717.70, closing at 1727.85, up 8.21, or 0.48%. Yesterday, spot gold and silver continued their slight volatility. Asian and European markets edged higher. After the opening of the US market, it reached its highest point at 1737. Gold and silver in the afternoon in New York fell and rebounded. Eventually, it ended slightly positive and could continue to fall.

In Greece, the market is numb. The euro zone finance ministers are considering postponing Greece’s second round of rescue plans, raising concerns that Greece will eventually face internal default risk on March 20th and eventually withdraw from the euro zone, leaving Greece with no time left. In many cases, negotiations with private creditors are still undetermined and market concerns are increasing. The euro/dollar fell to a week-long low. Early Thursday morning, the Greek Finance Minister stated that the government has approved a 325 million euro savings plan. If the Euro Group signs a bailout plan, Greece will announce a debt replacement plan next Monday. However, there are some "technical issues" that need to be resolved before finally getting assistance. The euro group Juncker has responded to this and has received strong commitment from leaders of the Greek political parties. Greece and the three major international organizations have already found ‘'additional measures’’ of 325 million euros. How much of this is a "technical problem" and how "extra measures" are taken, and the market is already numb to this. The chief currency researcher of the online currency trading company in New York said, “The market is quite tired of false promises. It seems that we have been able to obtain only these. Greece’s access to assistance is still pending until February 20, so it’s best to leave now. Watch or short the euro against the US dollar.” Wednesday, the market oscillated sharply. Earlier by China’s indication that it would provide support to Europe, and the European Central Bank’s willingness to abandon Greek bond income, risk currencies such as the euro generally rose. However, afterwards, the euro zone finance ministers considered how to postpone the second round of aid plan to Greece on the premise of avoiding unconditional debt default. Euro and other risky currencies then surged back down and extended their losses.

Risk aversion rises, US index expands gains China’s support for Europe’s efforts to deal with the debt crisis once boosted market confidence, but despite Greece’s efforts to meet EU conditions, the European Union still chooses to wait and see, investors worry about the possibility of Greece’s defaulting out of the euro zone. Optimism soon wears off. Coupled with the poor performance of Eurozone countries' GDP data, market risk appetite was generally under pressure. The United States Index was favored by the market and extended its gains to the 79.70 frontline. However, the minutes of the Fed meeting pessimistically increased easing expectations and restricted exchange rate gains. The fourth quarter GDP figures of France, Germany, and the euro zone announced in early European morning were all better than expected. The market sentiment further recovered and the US dollar was further pressured, hitting a low of 79.10 intraday. Late in New York, the Greek government has agreed to cut further 325 million euros in expenses in an effort to secure the second batch. The Greek Finance Minister said Monday that the debt agreement will be announced and that the Eurozone finance ministers meeting will receive Greece’s commitments. The three major institutions have completed and submitted the Greek debt agreement report, and the market is once again seeing the dawn of the first round; at the same time, the Fed’s meeting minutes show officials’ The outlook is pessimistic, and once again increasing easing expectations, the dollar hits a high of 79.73 after the gains stalled. If the situation in Greece further deteriorates, the crisis in the country and the euro zone will further escalate, reaching a stage of more serious collapse. Market confidence will be severely impacted. The Federal Reserve announced on Wednesday the minutes of the January Open Market Committee meeting, which showed that some Fed officials hold the view that it is necessary to purchase more assets this year at the January policy meeting. Minutes of the meeting showed that most of the FOMC participants believe that their GDP estimates may be revised downwards, while the unemployment rate is expected to be revised upwards. Several members believe that the inflation rate will be at or below the target level by the end of 2014. In addition, U.S. Treasury Secretary Geithner reaffirmed his position on the exchange rate issue on Wednesday, that is, *** needs to appreciate faster. The U.S. Department of the Treasury issued a report on Wednesday saying that overseas investors reduced their long-term U.S. dollar production in December, and that China has reduced its U.S. treasury bonds for the third consecutive month.

Technical side:

Gold: The daily chart MACD has a low slope and the green pillar is basically flat. KDJ currently has three lines at the lower end of 50 with the intention of becoming a gold fork. The average of 5 antennas is flat, 10 antennas are down, and 20 antennas are up. The short-term team is still mixed. Comprehensive technical aspects: repeated shocks, waiting for directional choice.

Silver: Daily MACD speed line down, green column slightly stretched, KDJ is currently down, divergent. Average 5,10 antenna down, 20 antenna up. Comprehensive technical aspects: repeated shocks to wait for breakthroughs, the daily chart bears the upper hand.