[Market Evening] Bad gold! Things Are Improving, World can Avoid Recession
Global markets have tumbled in recent weeks as investors fretted over a string of events including tightening monetary policy in the West, the impact of the coronavirus pandemic in Asia and the ongoing Russian-Ukrainian war.

As of 17:00 (GMT+8), spot gold fell 0.033% to $1835.51/oz, and spot silver rose 0.483% to $21.640/oz.
Comment: International gold prices are under pressure, and bulls remain cautious before Fed Chairman Powell testifies before Congress. Investors were closely watching for new signals from Powell on the prospect of a Fed rate hike. Some institutions believe that the Fed is playing a dangerous game, and it is difficult for the price of gold to fall below the $1,800 mark.
Suggestion: long spot gold at 1834.80, and the target point is 1857.90.
As of 17:00 (GMT+8), the US dollar index fell 0.479% to 103.79, EUR/USD rose 0.615% to 1.05740; GBP/USD rose 0.464% to 1.23014; AUD/USD rose 0.305% to 0.69769; USD /JPY was up 0.175% at 135.306.
Comment: The Bank of England raised interest rates by 25 basis points again last week, a move that was more cautious than central banks such as the Federal Reserve and the Swiss National Bank. Goldman Sachs analysts said in a report on Sunday that the Bank of England's more cautious measures to control inflation to cushion the blow to economic growth "is negative for the pound, which is in line with the sterling's depreciation since mid-March. 5%." Elsewhere, sterling hopefuls should look to EUR/GBP, which has seen a sharp reversal of its recent move above 0.8600, for a more defined reversal.
Suggestion: EUR/USD 1.05740 position to go long, the target point 1.06700.
As of 17:00 (GMT+8), WTI rose 1.087% to $109.991/barrel; Brent rose 0.945% to $113.242/barrel.
Comment: International oil prices rose, recovering some of last week's losses, as investors focused on tight supplies of crude oil and fuel products rather than worrying that a recession would dampen future demand. The US is trying to impose price caps on Russian oil with allies.
Suggestion: short US crude oil at 110.070; the target point is 106.170.
1. Solend released a new proposal to introduce an account loan limit to solve the whale liquidation problem;
2. The beacon chain has been deployed on the Ethereum Sepolia test net and will be merged soon;
3. Celsius has repaid Compound Finance $10 million in DAI;
4. President of FTX.US: The crypto market will recover faster;
5. The Sandbox and Time Magazine will develop TIME Square in the metaverse;
6. Security team: The DHE project has been confirmed as the Rug Pull project;
7. "Bitcoin is dead" Google search hits an all-time high.
The Taiwan Weighted Index rose 1.287% to 15703.2 points;
The Nikkei 225 rose 1.475% to 26417.0 points;
Hong Kong's Hang Seng Index rose 1.454% to 21562.0 points;
Australia's S&P/ASX 200 rose 1.142% to 6,574.05.
20:30(GM+8):
Canada's April retail sales monthly rate (%)
Canada's April core retail sales monthly rate (%)
U.S. Chicago Fed National Activity Index Changes in May.
22:00(GM+8):
U.S. May Existing Home Sales Annualized Total (10,000)
US May Existing Home Sales Annualized Monthly Rate (%)
22:30(GM+8):
U.S. June 21 6-Month Treasury Auction - High-Interest Rate (%)
U.S. June 21 auction of 6-month Treasury bonds - total amount ($100 million)
U.S. June 21 3-Month Treasury Auction - High-Interest Rate (%)
U.S. June 21 3-Month Treasury Auction - High-Interest Rate (%)
US 3-Month Treasury Auction on June 21 - Total Amount ($100 million)
U.S. June 21 6-Month Treasury Auction - High Allocation Percentage (%)
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