Historic Moment: Gold Surges Above $2,500 Mark, Forging Glory!

Hot spot tracking

• As of last week, bets on a 50 basis point rate cut by the Federal Reserve in September fell back to 25% last week. In addition, the preliminary reading of the University of Michigan Consumer Confidence Index for August was 67.8, slightly exceeding the expected 66.9, the first increase in five months; the initial reading of the one-year inflation rate remained unchanged at 2.9% as expected.

• Middle East situation-Blinken visited Israel for the ninth time in a year. Gaza ceasefire negotiations are scheduled to resume on August 21. Biden said Israel and Kazakhstan are “getting closer” to a ceasefire agreement; the Israeli army said Hezbollah fired 55 rockets at northern communities, and there were no casualties in the attack. The situation in the Middle East is related to the trend of gold and crude oil.

• Hedge funds turned net long on the yen for the first time since 2021. Bullish for the yen.

Product Hot Comment

• Forex

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  EUR/USD	▲0.47%	1.1024	1.10257
  GBP/USD	▲0.70%	1.29443	1.29428
  AUD/USD	▲0.87%	0.66719	0.66701
  USD/JPY	▼-1.07%	147.698	147.681
  GBP/CAD	▲0.40%	1.77115	1.76998
  NZD/CAD	▲0.73%	0.82796	0.82746

  📝 Review:Last Friday, the US dollar index continued to fall, and finally closed down 0.636% at 102.4. The weekly line recorded three consecutive declines, the longest decline since March. U.S. Treasury yields fell across the board, with the benchmark 10-year Treasury yield closing at 3.885%; the two-year Treasury yield barely held the 4% mark, and finally closed at 4.06%.

  🕵️ Operation suggestion:

  USD/JPY 147.910  Sell  Target Price  146.141

  
  

• Gold

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  Gold	▲2.10%	2507.83	2508.79
  Silver	▲2.19%	28.948	28.984

  📝 Review:Boosted by the weakening of the US dollar and the expectation of an imminent rate cut by the Federal Reserve, spot gold broke through $2,500/ounce, setting a new record high. It finally closed up 2.08% at $2,507.7/ounce. Spot silver finally closed up 2.31% at $29.02/ounce.

  🕵️ Operation suggestion:

  Gold 2503.32  Buy  Target Price  2518.73

• Crude Oil

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  WTI Crude Oil	▼-1.71%	75.568	75.335
  Brent Crude Oil	▼-1.43%	79.23	78.776

  📝 Review:International oil prices gave up some of their risk premium as Iran hinted at holding off on retaliation against Israel during the Gaza ceasefire negotiations. WTI crude oil once fell below the 75 mark during the session and eventually closed down 1.92% at $75.41 per barrel; Brent crude oil eventually closed down 1.66% at $79.07 per barrel.

  🕵️ Operation suggestion:

  WTI Crude Oil 75.248  Sell  Target Price  74.462

  
  

• Indice

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  Nasdaq 100	▲0.12%	19512.6	19538.45
  Dow Jones	▲0.14%	40663.4	40691.4
  S&P 500	▲0.13%	5554.75	5561.15
  	▼0.00%	17559.3	17559.3
  US Dollar Index	▼-0.58%	102.2	102.13

  📝 Review:The three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up 0.24% or 96 points, the S&P 500 up 0.2%, and the Nasdaq up 0.21%. The Nasdaq Golden Dragon China Index closed up 1.9%, with JD.com (JD.O) up more than 8%, Alibaba (BABA.N) up 4.5%, and Li Auto (LI.O) up nearly 7%.

  🕵️ Operation suggestion:

  Nasdaq 100 19576.450  Buy  Target Price  19914.676

  
  

• Crypto

  Product	Yesterday's Change	Yesterday's Close	Today's Open
  BitCoin	▲0.86%	59821.2	59438
  Ethereum	▲2.23%	2666.5	2643.4
  Dogecoin	▼-0.27%	0.10226	0.10112

  📝 Review:From the overall market trend, the Bitcoin market shows a fierce game between long and short parties. As of the current trading session, the price of Bitcoin is still below $59,800. Bitcoin has twice dropped to $57,610, but has not fallen below it. This phenomenon has important indicative significance for the subsequent market trend.

  🕵️ Operation suggestion:

  BitCoin 58353.8  Sell  Target Price  57105.7