Wei Liangchen: Spot Gold This Week2Second breakthrough1980! I expect the gold price to touch next week2000USD!

[b]8.2Spot gold this week2Second breakthrough1980! I expect the gold price to touch next week2000USD![/b]


There is only one direction in investment, not long or short, only the right direction. I am Wei Liangchen, a friend who is willing to accompany you towards the right path. Fate never favors anyone, but always favors those who live seriously. You will have your own answers in August and September when you do things in May and June. Work harder and be more sunny. Sooner or later, you will be amazed by time, both irreplaceable and shining brightly. Life is never perfect, often flowers and thorns coexist. You need to allow some cracks in your life so that sunlight can shine in.
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Recently, the US Treasury Department announced sanctions against a Chinese company and two officials, claiming that they have violated the human rights of ethnic minorities in Xinjiang. The actions of the United States are undoubtedly adding insult to injury to the already deteriorating relationship between China and the United States. In addition to the situation between China and the United States, the COVID-19 epidemic is also the focus of the market. The death cases of COVID-19 in the United States have exceeded15Ten thousand,CNNIt is said that this is a "terrible warning" received by the United States that if the response mode is not changed, the death toll may soar. In addition, the chief infectious disease expert in the United States, Fauci, has also warned that the United States cannot afford another outbreak of the epidemic. Frequent geopolitical outbreaks and the ongoing severity of the epidemic have provided tremendous support to the precious metal market due to numerous risks.


Overview of the trend of spot gold


Friday（7month31On the same day, the US dollar index and gold rose together, with gold prices reaching a historic high due to the recent continuous decline in the US dollar and poor economic data in various regions, which led investors to flock to buy gold as a safe haven. The price of gold has set a new record since2016year2The best performing month since the beginning of the month also recorded the fifth consecutive month of gains.


Spot gold closed on Friday1975.00dollar/Ounces, up19.40USD or0.99%. This week, spot gold rose74.03USD or3.89%. This month, spot gold rose195.30USD or10.97%。
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Is gold still in a situation where it cannot go up or down?


For Friday, gold opens on1958On the front line, the white market has almost always been in an upward trend, with the highest being at1983First line, followed by a rapid pullback, in a volatile state, and ultimately closed at1973For such a market trend, it is undoubtedly more in line with the train of thought. After all, Wei Liangchen has clearly expressed that gold is in a situation where it cannot go up or down. Although it hit a new high again on Friday, it has reached1983On the front line, but I don't know if it was discovered yesterday. Gold directly came from1977Pull up to1983Then it directly collapsed and plummeted to1970On the front line, this is also what Wei Liangchen recently said: once gold rises, it will face selling.


Just to put it bluntly, the increase in cases of the epidemic is also becoming increasingly severe, especially in the United States, where the number of deaths from the epidemic alone has reached15Ten thousand people, one can imagine how terrifying it is. As a safe haven asset, gold also receives considerable support. In addition/The situation in the United States is also becoming increasingly tense, and the continuous series of sanctions on both sides has also led to an increase in risk aversion, which has boosted the bullish gold market. So, is there still a drama for gold bears?


Although it is not ruled out that gold may remain strong and reach new highs, there is currently continuous good news for vaccines. Once this happens, a sharp drop in gold is inevitable. In addition, once gold rises, it will encounter selling, which means buying profits will escape. After all, the upper level is unknown and there are many obstacles, and investors usually control risks to profit and exit. Therefore, it is difficult for gold to rise, fall, or fall. The market is waiting for the latest news to break this stalemate. For next week's operations, if there are no unexpected events during the weekend, we will still focus on the upper level1980-2000Below1937-1910-1900Over the weekend, Wei Liangchen won't go into too much detail. For detailed information and analysis of gold's trend, please follow Wei Liangchen's blog post on Monday morning.
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Every day, the layout is open, you have your ideas, I have my strategies, I have said it multiple times, the ideas given, you need to keep up, I will help you; If you wait and see, you are just missing out. If you don't trust, you have the right to use it as a reference. There's nothing to say, after all, the market is constantly moving and it's normal for everyone to have different ideas. I just hope to do my best to help those in need. The acquaintance between people originates from a chance encounter, while the interaction between people relies on a sincere and simple heart. Sincerely treat each other, learn from each other with heart, and find my investment friends. I hope to cooperate with my clients for a long time. Investment is risky, and I cannot guarantee that you will make a lot of money in one go. That's not true. In short, if you sincerely follow, I will do my best to help! Lu Yao knows the horsepower, and time sees the heart!


The above article is original by Wei Liangchen. Investment carries risks and caution is necessary when entering the industry.


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