[Market Evening] The Price of Gold Hits the 1780 Mark, Will It Make A Deep Correction?

As of 17:00 (GMT+8), spot gold rose 0.071% to $1773.26 an ounce, and spot silver fell 0.315% to $20.271 an ounce.

Comment: The international gold price continued to hit a new high of $1,780.39 per ounce since July 5, as concerns over the global economic slowdown intensified, boosting the safe-haven demand for precious metals. However, as the dollar index rebounded, gold prices pared most of the day's gains. It remains to be seen whether gold bulls can extend their upward move, with the focus this week on the upcoming US nonfarm payrolls report for July.

Suggestion: short spot gold at 1773.20, and the target point is 1785.10.

As of 17:00 (GMT+8), the US dollar index rose 0.181% to 105.45, EUR/USD fell 0.213% to 1.02359; GBP/USD fell 0.445% to 1.21909; AUD/USD fell 1.533% to 0.69225; USD /JPY fell 0.545% to 130.928.

Comment: At present, only the US dollar has experienced a relatively large ebb, which may indirectly lead the euro to rise. On the daily chart, the EUR/USD is trying to break through the upper resistance level of 1.0280 in the recent sideways. If it breaks through and clears the 1.03 psychological mark, the EUR/USD is expected to rise further, and the top faces new resistance in the 1.04-1.05 area.

Suggestion: short the EUR/USD at 1.02400, and the target point is 1.01450.

As of 17:00 (GMT+8), WTI fell 0.746% to $92.548/barrel; Brent fell 0.669% to $98.870/barrel.

Comment: International oil prices are under pressure; many data show that the global manufacturing industry has declined, and the outlook for fuel demand is bleak. But the market sentiment was relatively cautious ahead of the major crude producers' meeting this week to decide whether to increase supply, with investors waiting to see if Saudi Arabia would push for more output.

Suggestion: Go short at 92.750 US crude oil, target point at 89.000.

1. Coinbase Prime launches Ethereum staking service to US institutional clients;

2. The US SEC charged 11 people with participating in the creation of Forsage, a crypto Ponzi scheme worth over $300 million;

3. Binance will launch the soul-bound token BAB as a KYC certificate;

4. The Monetary Authority of Singapore is "actively reviewing" stablecoin regulatory measures;

5. The revenue of ENS in July reached 5,400 Ethereum, a new monthly high;

6. Aptos will issue Token rewards to eligible users of Incentive Testnet 2, and the mainnet is expected to be launched this fall;

7. Chiliz will invest $100 million in Barça Studios;

The Taiwan Weighted Index fell 1.126% to 14,685.0 points;

The Nikkei 225 index fell 0.881% to 27651.1 points;

Hong Kong's Hang Seng Index fell 1.842% to 19607.0 points;

Australia's S&P/ASX 200 rose 0.292% to 7,003.65.

21:00(GM+8):

Singapore July SIPMM Manufacturing PMI

21:30(GM+8):

Canada July Markit Manufacturing PMI

22:00(GM+8):

Job vacancies in JOLTs in the United States in June (10,000)

All truck sales in the United States in July (10,000 units) (0802-0803)

All vehicle sales in the United States in July (10,000 units) (0802-0803)