This trading day, paper gold in the afternoon stabilized 367 yuan / g near the first line, the day of gold prices to maintain a narrow range of volatility, gold prices fluctuated in the short-term range.
Gold prices hit a more than one-month high on Thursday as yields on the dollar and Treasuries fell and Federal Reserve Chairman Colin Powell reiterated his moderate policy stance, boosting the attractiveness of gold.
Yesterday, as the dollar index hit a new low, following lower US bond yields, Mr Powell's cautious comments sent another signal that the Fed was maintaining an ultra-loose stance; the dollar index fell again, helped by the fall in the dollar and US bond yields. Meanwhile, Ms Yellen said yesterday that there was a risk of permanent fragmentation in the global economy in the wake of the novel coronavirus crisis and urged major economies to inject substantial new financial support to ensure a strong recovery. This has raised market expectations for future inflation and provided momentum for gold prices to rise.
Paper gold opened normally in the morning. At present, it fluctuates and falls under the suppression of the first line of 370 yuan / gram, the lower support of the day pays attention to 366 yuan / gram line, the day breaks 364 yuan / gram to see the rebound, does not break the top line of 370 yuan / gram, stabilizes 370 yuan / gram, and sees 375 yuan / gram near the first line.
