[Market Evening] Gold Prices Fall, If It Falls Below the $1,700 Mark, It Will Challenge the Yearly Low of $1,681

As of 17:00 (GMT+8), spot gold was down 0.009% at $1747.81/oz, and spot silver was down 0.058% at $19.089/oz.

Comment: International gold prices are under pressure as the US dollar strengthens again after the hawkish remarks from the Fed officials. But investors were cautious ahead of the upcoming Jackson Hole annual meeting of global central banks later this week. Minneapolis Fed President Kashkari reiterated that more aggressive rate hikes are needed to control inflation. He is one of the most hawkish officials in Fed policymaking.

Suggestion: short Spot gold at 1747.60, and the target point is 1730.60.

As of 17:00 (GMT+8), the US dollar index rose 0.074% to 108.57, EUR/USD fell 0.143% to 0.99555; GBP/USD fell 0.035% to 1.18261; AUD/USD fell 0.079% to 0.69252; USD /JPY fell 0.131% to 136.526.

Comment: The eurozone economy is likely to go into recession, so the European Central Bank may be difficult to fulfill the market rate hike pricing. I think the euro is unlikely to continue higher even if it accelerates and prepends the contractionary cycle, and it is unlikely that a big rate hike will have a positive effect beyond a "knee-jump" response.

Suggestion: short the EUR/USD at 0.99550, and the target point is 0.99030.

As of 17:00 (GMT+8), WTI rose 0.756% to $94.304/barrel; Brent rose 0.881% to $99.907/barrel.

Comment: As oil prices show the momentum of bottoming out, a game between oil-producing countries and high-inflation countries will slowly unfold. In particular, the Biden administration, which is about to face the mid-term exam at the end of the year, is bound to increase the frequency of moves.

Suggestion: long US crude oil at 94.250, and the target point is 97.340.

1. Singapore's DBS digital exchange saw four times the trading volume in June than in April;

2. Nexo: Will fully support PoS Ethereum and evaluate PoW forks;

3. Uniswap's proposal to establish the Uniswap Foundation has been approved, and will apply for a $74 million grant from the DAO treasury;

4. Data: The total lock-up volume of the public chain Canto exceeded 77 million US dollars;

5. Nomad announced to reward NFTs to white hat hackers who repaid funds;

6. Data: Ethereum holds more than 100 addresses, reaching 45,589, a new high in 16 months;

7. Security Team: FinanceGrim attackers have traded 3,000,000 DAI for 1,830 ETH;

8. Data: The total number of depositors in the Ethereum beacon chain exceeded 80,000;

9. The zkSync2.0 testnet will implement dynamic fees on August 30.

The Taiwan Weighted Index fell 0.342% to 15063.0 points;

The Nikkei 225 fell 0.576% to 28,294.5 points;

Hong Kong's Hang Seng Index fell 1.302% to 19237.7 points;

Australia's S&P/ASX 200 rose 0.158% to 6,974.55.

20:30(GM+8):

US July durable goods orders monthly rate initial value (%)

The US deducted the initial monthly rate of defense durable goods orders in July (%)

22:00(GM+8):

US July seasonally adjusted existing home sales index monthly rate (%)

US Existing Home Contract Sales Index Seasonally Adjusted in July

US July Seasonally Adjusted Existing Home Sales Index Annual Rate (%)

22:30(GM+8):

Changes in US EIA crude oil inventories for the week ended August 19 (10,000 barrels)

Changes in US EIA gasoline inventories for the week ended August 19 (10,000 barrels)

Changes in US EIA refined oil inventories for the week ended August 19 (10,000 barrels)

US EIA weekly crude oil imports for the week ended August 19 (10,000 barrels)