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The U.S. dollar rose in line with gold as markets resumed for a long holiday, while U.S. stocks retreated sharply and gold prices rose to a seven-year high.

On the other hand, the euro fell to a near three-year low and gold rose above the 1600 mark. Although still attractive, the market can continue to profit first and then buy on the dips. The President of the United States is on vacation,

The market was relatively active, and the gold price stabilized above 1584 in the early stage. Technically, it has stabilized at 1580, breaking through the upward resistance and consolidation level.

Gold extended the upside, so early selling pressure has been rare, gold prices rely on steady gains.

The new crown pneumonia outbreak has not yet removed the threat to the global market, risk aversion increased. Gold last night hit a near seven-year high of $1,604.80 at the close,

It last closed above $1,600 on March 27, 2013. The market is digesting the impact of the new outbreak of pneumonia on enterprises, and technology giant apple has issued a warning.

Earnings for the march quarter will be lower than expected, dragging down the big three indexes. Reached the United States city, gold prices up through the 1600 barrier, this morning to see gold prices continued to stabilize.

But the dollar also rose in tandem, with the euro falling to a near three-year low of $1.08, the pound also falling below $1.3, the euro losing ground across the board and the U.S. -weighted index stabilizing above $99.

Will again approach the 100 mark. Expectations of the European central bank's negative interest rate policy are starting to rise, but looking back on recent upbeat U.S. economic data and an upbeat outlook from fed chairman colin Powell,

The euro has come under pressure against the dollar as the European central bank has been counting on fiscally rich governments to increase market stimulus to ease policy pressure on the European central bank.

As Europe's economy continues to slide, markets believe the European central bank will continue to cut interest rates. Abn amro said it expects the ECB to cut rates by another 0.1 percent to -0.6 percent.

And increased bond purchases to 40 billion euros a month from 20 billion euros, putting the euro under heavy pressure.

The trend of dollar and gold strengthening at the same time will continue with the release of us PPI data tonight, but more importantly late into the night when the FOMC releases the minutes of last month's rate-setting meeting.

Although the fed held rates steady last month, the shift to a more dovish fed has also raised expectations among investors that the central bank will adopt more accommodative monetary policy.

The record of last month's meeting will give investors more insight. Gold prices remain on the upside, but as they have built up some gains, it is recommended to take some profits first and buy on the dips.