[Market Evening] Gold Remains Weak, Breaking Through $1750-1760 Is Expected to Reduce Further Downward Momentum

As of 17:00 (GMT+8), spot gold rose 0.706% to $1763.35 an ounce, and spot silver rose 1.315% to $19.344 an ounce.

Comment: The international gold price rose to a one-week high of $1,762.04 per ounce, supported by a fall in the dollar. Investors awaited hints from Federal Reserve Chairman Jerome Powell on the outlook for interest rates at the annual meeting of central banks in Jackson Hole. On the macro side, there is evidence that the Fed has reasons to slow down the pace of rate hikes. Inflation remains above 8%, however, and the Fed's painstaking work to tame upward pressure on prices is far from over.

Suggestion: long spot gold 1763.80 position, target point 1772.10.

As of 17:00 (GMT+8), the US dollar index fell 0.322% to 108.21, EUR/USD rose 0.320% to 0.99988; GBP/USD rose 0.365% to 1.18352; AUD/USD rose 1.043% to 0.69828; USD /JPY fell 0.394% to 136.582.

Comment: Affected by high inflation, the initial value of the Eurozone Manufacturing Purchasing Managers Index in August was 49.7, a 26-month low. In addition, the initial value of the euro zone's services purchasing managers' index in August was 50.2, a 17-month low. Continued weakness in the euro zone's manufacturing sector is being superimposed on a contraction in the service sector, while high inflation and rising interest rates are putting increasing pressure on the demand side.

Suggestion: short EUR/USD at 0.99940, target point 0.99130.

As of 17:00 (GMT+8), WTI fell 0.343% to $94.707/barrel; Brent fell 0.156% to $100.471/barrel.

Comment: International oil prices hit a more than three-week high, as major oil-producing countries may cut production, the restart of the Iran nuclear deal is sluggish, Russian exports are disrupted and U.S. refineries are partially closed, and supply concerns have intensified. Although tepid U.S. gasoline demand capped gains.

Suggestion: long US crude oil at 94.720, and the target point is 97.710.

1. Wells Fargo: The dollar is about to peak, and the United States will fall into recession early next year, forcing the Fed to cut interest rates;

2. Governor of the Bank of Finland: The digital euro is conducive to providing consumers with European cross-border payment services;

3. Alchemy launches NFT API on Arbitrum One and Arbitrum Goerli testnets;

4. The lending protocol EulerFinance community released a proposal to add stETH as collateral;

5. Buterin: People still underestimate the advantages of cryptocurrency payments;

6. Binance responds to "security" rumors: there is no valid judgment from law enforcement agencies, and the account will be unlocked within a limited time;

7. South Korea’s FIU will conduct its first sanction review on the country’s crypto exchange operators on August 30;

8. Elliptic: TornadoCash is the preferred money laundering tool for NFT scams;

9. The total value of stolen NFTs in the past 12 months exceeded $100 million, with BoredApes accounting for the highest proportion.

The Taiwan Weighted Index rose 0.914% to 15263.2 points;

The Nikkei 225 rose 0.450% to 28,593.5 points;

Hong Kong's Hang Seng Index rose 3.009% to 19929.7 points;

Australia's S&P/ASX 200 rose 0.643% to 7063.45.

20:30(GM+8):

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