Spot gold closed high for the third consecutive week, once again approaching the 1900 mark, hitting a high of $1,896.19 per ounce since November 16th, as the United States began to vaccinate the new crown widely and the Federal Reserve maintained its current easing policy unchanged. However, the US Congress seemed unable to reach an agreement on the stimulus package before the deadline, limiting the rise in gold prices, which ended up 2.28% to US$1,881.24 per ounce. The Fed is not prepared to adjust the duration of its debt purchases, implying that the driving force of the US economy cannot be provided by monetary policy alone, and fiscal policy must also contribute.
Technically, the Bollinger Band curve opened from a narrow path on Monday, and prices began to break through continuously. Generally speaking, it is rare to pierce the upper track. Among them, the callback triggered more short-term price declines, which shows that the price is fundamental. The stimulus is not radical. When the upward momentum is exhausted, the new week may trigger a short-term downside again. MACD shows that kinetic energy is gradually declining, and it has gradually entered the sideways shock area. Need to pay attention to whether there will be signs of price decline on Monday.
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