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Well-known foreign media within one day The report pointed out that after canceling the peg of the RMB to the U.S. dollar for several years, the People’s Bank of China once again allowed the RMB to follow the trend of the U.S. dollar closely. Witnesses to the annual peg period believe that the situation has changed too much, so this peg period will not last long. The yuan has appreciated 1% since the end of its peg against the U.S. dollar at .

O'Neill, the Minister of Commerce of the Ministry of Finance, said that as the year has passed, China is clearly moving towards a more flexible exchange rate system and has made good progress, and the RMB will play a more important role in the global financial system.

China is currently preventing the yuan from depreciating to improve its chances of winning reserve currency status this year. Standard Chartered predicts that if China gets its way, it could trigger the transfer of trillions of dollars in global reserves into Chinese assets.

Co-chairman of Emerging Market Bonds of Fang Asset Management Company said that I had previously mistakenly believed that failure to achieve full capital account convertibility would limit the use of RMB in trade financing, but in fact, the internationalization of RMB Speed has improved significantly.

Stocks closed slightly higher on Monday, with the Dow Jones Industrial Average rising . High.point, or.%, to.point. The S&P closed less than 10 points below its record high of 0.00 points set on March 1.

Basic analysis

International spot silver opened at the highest and hit the lowest on Monday and closed at a drop of .USD, or .%.

Lunton testified to Congress last week that if the economic situation develops as expected, it would be appropriate to raise interest rates at some point this year. She preferred to slowly tighten monetary policy earlier, and last Friday The released inflation data further supported the Federal Reserve's expectations of raising interest rates. The U.S. dollar surged, boosted by promising U.S. economic data and expectations of interest rate hikes by the Federal Reserve, and hit a new high since March during the day. This further put pressure on gold priced in U.S. dollars.

After the Greek authorities reached a debt agreement with creditors last week, doubts about Greece's exit from the euro zone have at least temporarily subsided, and gold's safe-haven halo has faded.

Reserve data released by the People's Bank of China on Friday showed that for the first time in six years, the People's Bank of China significantly increased its holdings of gold reserves by nearly 100% or tons. However, as the data was lower than market expectations, this news did not have any impact on gold prices. support.

The gold futures market is filled with negative sentiments. Both Wall Street professionals and public investors have expressed great bearish sentiment towards gold. The size of the net long position in gold held by money managers is even greater. It was the lowest level since the U.S. government began compiling the data in 2006. Data from Reuters showed that more than 10,000 gold contracts were traded on the Shanghai Gold Exchange on Monday, compared with slightly less than 10,000 lots on Friday. As of last Friday, the monthly average daily trading volume was . The American Consumer News and Business Channel believes that it was the outpouring of tens of thousands of tons of selling orders from the Shanghai Gold Exchange that triggered the market's panic sell-off. ANZ Bank also stated that as many as tons of gold were sold in the Chinese market, which was the cause of the collapse in gold prices.

As of March, the year-month silver futures price on the New York Mercantile Exchange was quoted in US dollars in late trading. The trading volume was, and the number of open contracts on the month and date increased.

Technical Analysis

Silver fell sharply overnight following gold, closing with a long negative column. During the day, the price of silver fell below the lower track of the descending channel, and the upward movement was blocked by the daily moving average. The short-term downward trend may continue. The multi-day moving averages continue to diverge in unison. The upper part of the indicator's double-line oversold zone tends to be smooth, and the blue kinetic energy column is stable and slightly increased.