Gold Eases From Near 5 Month Highs

Market News

Hot spot tracking

Saudi Arabia lowered the price of most of its oil sold to Asia in January to a premium of $3.25 a barrel.

The White House said Biden would not consider using Russian oil to supplement the Strategic Petroleum Reserve.

Putin extends ban on exchanging stakes in Russian strategic companies for citizens of "unfriendly countries"

Product Hot Comment

Forex

As of 17:00 (GMT+8), the U.S. dollar index rose 0.057% to 105.31, EUR/USD rose 0.028% to 1.04882; GBP/USD rose 0.152% to 1.21934; AUD/USD rose 0.219% to 0.67140; /JPY rose 0.195% to 136.904.

📝 Review:European Commission President Ursula von der Leyen said that the EU should improve industry aid rules to make public investment possible and reassess the funds needed for a green transition, which would greatly benefit the euro.

🕵️ Operation suggestion:long EUR/USD at 1.04855, with a target price 1.05955.
Gold

As of 17:00 (GMT+8), spot gold rose 0.082% to $1769.93/oz, and spot silver rose 0.531% to $22.348/oz.

📝 Review:The international gold price rose slightly, but the gains were limited by the rebound of the US dollar. Any sign of stronger-than-expected demand could lead markets to revisit Fed policy expectations. Before the end of the Federal Reserve's monetary policy meeting next week, the dollar has little room to fall.

🕵️ Operation suggestion:go long at 1769.65, and the target price is 1810.21.
Crude Oil

As of 17:00 (GMT+8), WTI fell 0.422% to $77.084/barrel; Brent fell 0.224% to $82.835/barrel.

📝 Review:International oil prices rebounded as Western sanctions on Russia's crude oil industry eased concerns about oversupply. But the market will need time to confirm the final impact of the sanctions, and with Saudi Arabia lowering the official selling price of its flagship Arabian Light crude for Asian customers, the rebound in oil prices could be fragile.

🕵️ Operation suggestion:go short at 76.955, and the target price is 75.279.
Indice

As of 17:00 (GMT+8), Taiwan's weighted index fell 1.033% to 14691.7 points; the Nikkei 225 index rose 0.651% to 27851.1 points; Hong Kong's Hang Seng Index rose 1.552% to 19439.0 points; Australia's S&P/ASX200 index It fell 0.163% to 7277.55 points.

📝 Review:Taiwan's eight major sectors all fell. TSMC, the leading wafer foundry, will hold a moving ceremony at its fab in Phoenix on the 6th. In order to promote its manufacturing achievements in the United States, U.S. President Joe Biden is expected to attend in person; however, affected by the decline in U.S. technology stocks, TSMC (2330) closed at the lowest price of 478 yuan, down 11 yuan, or 2.25%. Wafer foundry UMC (2303) closed at 44.5 yuan, down 1.98%.

🕵️ Operation suggestion:long Taiwan's weighted index at 14690.7, and the target price is 14962.1.