【TOP1 Morning】Gold and silver prices plummeted, speculative mania retreated, three major US indexes rose sharply
USD/EUR rose to a two-month high; Reddit users turned to the biotechnology sector, and the enthusiasm gradually subsided; the price of gold fell nearly US$23 and silver fell US$2.37; US crude oil inventories fell, and the two crude oil futures continued to rise.

Gold: Silver prices fell sharply
Because investors locked in profits after rising 11.2% to a nearly eight-year high in the previous trading day. Gold also fell with silver.
At the end of the US market, spot gold closed at $1,837.88 per ounce, down $22.72 or 1.22%. The highest intraday hit $1,864.07 per ounce and the lowest hit $1,829.32 per ounce.
Spot silver closed at 26.67 US dollars per ounce, down 2.37 US dollars or 8.16%, the highest intraday hit 28.91 US dollars per ounce, the lowest touched 26.26 US dollars per ounce. Spot silver hit $30.03 per ounce on Monday, the highest level since February 2013.
The acting chairman of the US Commodity Futures Trading Commission (CFTC) said on Monday that the agency is "closely monitoring" recent activities in the silver market, as volatility in the securities market last week affected silver trading.
The China Gold Association said on Monday that China’s gold consumption has fallen by nearly one-fifth in 2020.
Forex: USD/EUR rose to two-month high
The dollar index closed at 91.05, down 0.01%, the highest intraday hit 91.28, the lowest hit 90.81; the euro/dollar closed at 1.2043, almost fell to the low point in early December, fell 0.15% on the day, fell about 1.6% for the year.
USD/JPY hovered above 105 and briefly broke through this mark on Monday, the first time since mid-November last year.
The market believes that the US economy may rebound from the new coronavirus pandemic earlier than Europe.
Preliminary economic data from the European Union show that the euro zone's contraction in the fourth quarter of 2020 is smaller than expected, but it implies that the decline in the first quarter of this year will be even greater.
Crude oil: two major crude oil futures continue to rise
U.S. crude oil inventories have fallen, and one of the worst snowstorms in several years has hit the northeastern United States, leading to an increase in winter fuel demand.
The two major crude oil futures continued their gains on Tuesday (February 2). As of press time, U.S. WTI crude oil March futures closed up 1.21 US dollars, or 2.26%, to 54.76 US dollars per barrel; Brent crude oil April futures closed up 1.11 US dollars, or 1.97%, to 57.46 US dollars per barrel. On the previous trading day, U.S. oil closed up 1.35 US dollars, or 2.58%, to 53.55 US dollars per barrel; Bulk Oil closed up 47 cents, or 0.84%, to 56.35 US dollars per barrel.
Ann-Louise Kittle, vice president of energy research and consulting agency Wood Mackenzie, said that rapid vaccination of the new crown vaccine and improved economic prospects may drive global oil demand growth by nearly 7% in 2021. According to the agency's macroeconomic outlook, the short-term assumption is that vaccine distribution will accelerate in 2021, and the global gross domestic product (GDP) will grow at 5%. The speed and strength of the recovery in global oil demand will depend on the speed of vaccine distribution and the recovery of the global economy.
Stock market: the three major indexes opened higher
The Dow opened higher and moved higher, expanding to more than 600 points, an increase of 2%. Bank stocks led the rally, but popular short-selling stocks fell sharply.
The Dow closed up 475.60 points, or 1.57%, to 30,687.48 points; the S&P 500 index closed up 52.40 points, or 1.39%, to 3,826.30 points; the Nasdaq closed up 209.40 points, or 1.56%, to 13,612.78 points.
Recently popularized by Reddit users, the biotechnology sector rose, while silver stocks and WSB popular concept stocks fell. In terms of individual stocks, Vaxart (VXRT.O) closed up 49.84%, Bilibili (BILI.O) closed up 6.86%, Futu Holdings (FUTU.O) closed up 11.4%, and Pan American Silver (PAAS.O) closed up. Down 13.41%, AMC Cinemas (AMC.N) closed down 41.2%, Game Station (GME.N) closed down 60%.
The speculative enthusiasm of retail investors is fading, which is beneficial to the overall market and investor confidence. Last week, the US stock market recorded its worst week since October last year.
Focus on today:
18:00 (GMT+8): The initial value of the annual rate of the consumer price index in the euro area in January
23:00 (GMT+8): US January ISM non-manufacturing index
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