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Yesterday, the European Central Bank discussed the interest rate and the world paid attention to the G7 joint rescue of the market. Unfortunately, although the European Central Bank increased water release, the interest rate remained unchanged, disappointing the market.

Global stock markets tumbled again, triggering a crisis of confidence. The new york Federal Reserve also issued a new round of QE to start. However, the financial market closed down in shock at the end of the day.

Gold also hit a two-week low, losing the US$ 1,600 mark and entering a technical bear market like the stock market.  I saw the Asia-Pacific market this morning, and the panic in the market eased slightly.

After such a big drop, it is advisable to wait patiently for the market conditions to calm down and then bring in flat goods. There are several economic data to be released in the United States tonight, but the key point is whether the market can stabilize and market confidence will take time to recover.

The European Central Bank unexpectedly kept interest rates unchanged. Central Bank President Lagarde told reporters that the epidemic poses a major downward risk to the economy and inflation may drop significantly in the coming months.

We will be ready to adjust all policy tools when necessary. We also mentioned that the spread of the epidemic will affect growth prospects and trigger market fluctuations. We called on all governments to take timely actions.

Bold and coordinated fiscal measures are needed to deal with it.  The bank also released the latest economic forecast, which was cut from 1.1% to 0.8%, and the growth rate next year was cut from 1.4% to 1.3%.

Growth in 2022 will remain at 1.4%.  Inflation forecasts remain unchanged.

Despite efforts to rescue the market, market confidence has not recovered. European and American stock markets continue to plunge. U.S. stocks have once again triggered a break-up system. The market crisis has also affected the gold market.

Gold lost the $1,600 mark last night, a two-week low.  The stock market plummeted and investors needed to sell gold to ease the flow of capital.  As a traditional hedge asset,

Gold prices have fallen sharply for four days in a row. Most institutional investors have been asked to collect deposits, which has led to the continuous emergence of profit-taking opportunities. Investors have also obviously cashed in from the gold market to fill other positions.

Gold prices saw a minimum of 1,551 US dollars this morning before a rebound momentum emerged.  However, as the global financial market is still unstable, the gold price may fluctuate until the end of the quarter. After the quarter is over for a number of financial products,

Only in this way can we really begin to gasp for breath, but more importantly, market confidence needs to be restored before we can see that the gold market really reflects its value. Under the new QE policy, the gold market will have a period of performance in the future, and we need to wait patiently for a good opportunity of low absorption.