Gold prices stagnate at upward resistance level after breaking through March opening range

Thursday (March 23) Asian session, GBP / USD rose, currently trading at 1.Near 2288, as of 9: 21 Beijing time, the latest price of the pound against the dollar was 1.2289。

ECB in addition to raising interest rates 0.5 per cent, also reiterating that the eurozone banking sector remains sound, with abundant capital and liquidity.。

Bank of America strategists say stubborn inflation will make it harder for major central banks to stick to their current inflation targets, which will drive the foreign exchange market from now on.。

Senior portfolio manager Alessio de Longis has been ramping up its $1.1 billion Invesco Global Allocation Fund's risk asset allocation over the past three months。Now, he is gradually reducing those allocations and returning to safe assets.。

Goldman Sachs commodity researchers recently said that the main factor driving up oil prices over the past year was demand in China, not triggered by the Russia-Ukraine conflict, and that Chinese manufacturing activity is now rising。

Japanese investors are holding large amounts of overseas bonds, a trend that will likely keep yen bulls on the sidelines。

On February 27, precious metals first suppressed and then rose.。London gold at 1817.08, up 0.30%; gold and silver diverged, with London silver closing at 20.624, down 0.74%。

According to the World Gold Council's Global Gold Demand Trends Report, gold demand rose to its highest level in nearly 11 years in 2022.。Based on data analysis and professional insight into all dimensions of the gold market, this is the result of multiple actions such as heavy gold purchases by central banks, strong buying by individual investors and slowing gold ETF outflows.

Since the end of October last year to the beginning of February this year, the dollar, U.S. debt and precious metals prices have ushered in a round of obvious adjustment, during which U.S. bond yields from 4.2 above down to 3.Below 3, the dollar fell from a low of 113 to 101, while the external gold price rebounded all the way from a low of $1618 / oz to a high of $1975 / oz.。

After the dollar strengthened and upended the global economy in a way rarely seen in modern history, some of the world's top investors are now betting that the worst of the dollar's surge is over and into what will be a multi-year downward trend。

Investors are shorting all Asian currencies again, according to a new survey, shortly after the likelihood of the Federal Reserve continuing to raise interest rates increased, pushing the dollar back to its lost upward momentum。A two-week survey of 11 respondents showed that short bets on the Indian rupee strengthened further, hitting a three-month high.。

Business is expected in the short term iron ore or first up and then down, shock and stable operation; medium and long term or first up and then stable operation, later focus on steel mill profits and the actual demand of the downstream end of the material.。Business news agency said, the downstream steel mills iron ore inventory low, superimposed on the steel mills to resume production, the late release of steel demand gradually strengthened, steel prices rose after the steel mill profits are expected to improve, replenishment operations will continue, good replenishment demand release, coupled with market risk appetite repair, will support iron ore prices continue to rise。

Gunvor Group, Hartree Partners LP and Vitol Group have hired crop or metal traders since last year.。While this is not the first time big energy traders have ventured into such markets, there are several reasons why their interest in such markets has risen。

The yen is back as the most attractive option for arbitrage traders。Yen yields remained unchanged, while other currency yields rose, as the Bank of Japan firmly pursued ultra-loose monetary policy。The data shows that in terms of the three-month implied yield in the foreign exchange forward market, the yen's yield is -0.4%, the lowest of the 31 currencies analyzed。