Daily

December 20th
Today's amplitude range
The gold price fluctuates downward, obviously failing to pass the $1800 threshold. It is trying to support the bottom of $1784. If it falls below this level, it may have to fall to $1776 to support it. The suggested range today is 1776 dollars to 1792 dollars.
The Central Economic Work Conference of China pointed out that China's economy has the conditions for reasonable growth, and through efforts, it can improve the overall economic operation on the basis of improving quality and efficiency, and promote economic growth to reach the potential growth level. At the same time, it pointed out that China's total employment pressure and structural contradictions coexist, and it is necessary to timely and effectively alleviate the impact of structural price increases and some people in difficulty. Hong Kong stocks opened higher and closed lower, rising more than 330 points at most. The China Central Economic Work Conference was short of surprises. The Hang Seng Index fell to close at 19352 points, down 98 points or 0.5% over the week.
The EU countries reached an agreement on the ceiling of the wholesale price of natural gas, and the European energy crisis slowed down. At the same time, Germany's latest IFO business climate index improved, rising to 88.6 from 86.4 in November, which was better than the market expectation. The three major European stock markets stabilized, and Germany's DAX index fell 0.36%; France's Paris CAC index fell 0.32%, while Britain's FTSE 100 index fell 0.4%.
The inflation momentum in the United States is slowing down. However, Powell and Vice Chairman Williams made speeches successively, saying that the ultimate peak interest rate of the Federal Reserve Board still has the opportunity to adjust upwards. The market also expects the Federal Reserve to continue to extend its interest rate raising cycle. The three major stock indexes on Wall Street fell, and the Dow Jones Index fell 0.49%; The S&P 500 index fell 1.36%; The Nasdaq Composite fell 1.94%.
The Federal Reserve discussed interest rates last week. Although it slowed down the rate hike to 0.5%, the bitmap shows that Fed officials may need to raise the benchmark interest rate to above 5.1% predicted earlier this week, and there will be a policy of longer rate hike cycles. The dollar index, benefiting from the expectation of rate hikes, continues to hover at 104. The gold price is under pressure. The gold price is at $1798.8 at the highest, $1783.9 at the lowest, and closed at $1787.8, down $5.4.
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