AMA on X

Gold price: The price of gold is not afraid of higher U.S. bond yields, and one factor supports the bullish price of gold! Gold prices dragged down by higher U.S. bond yields Gold prices continue to fluctuate around $1,940. Heading into Tuesday's trading session, geopolitical factors could offset market headwinds, resulting in lower volatility for the precious metal. U.S. real yields have been moving higher through much of 2023, with the 10-year Treasury yield curve recently reaching its highest level in 14 years. The real yield is the nominal yield minus the market-priced inflation rate obtained from Treasury Inflation-Protected Securities (TIPS) of the same maturity. The last time real yields were this high was in 2009, when spot gold was priced at less than $1,000. The most recent time was in 2018, when the real yield was close to 1.0% and the spot gold price was less than $1,300. Gold price trend vs. US 10-year bond yield trend BRIC countries buy gold in large quantities Of course, the market has changed dramatically since then, and the tide of gold demand is coming as the BRIC countries (Brazil, Russia, India and China) seek reserve currencies other than the U.S. dollar. Recently, many believe that a gold-based currency has the potential to allow these countries to bypass the U.S. dollar in international trade. This system has proven to fail in the past for many reasons that I won’t go into in this article. Many people have reportedly seen every ounce of gold recently dug out of the ground in Western Australia, one of the world's largest physical gold producing areas, being shipped to China. Similar actions by other BRIC members have been reported elsewhere. Keep in mind that Australia, China and Russia are also the largest producers of gold, so hoarding may be a feature of recent gold price action. (Source: Dailyfx-Daniel McCarthy)

Following the State Council’s emphasis on the implementation of the spirit of the bureau meeting on Wednesday, last night there were concentrated buybacks among listed companies on the Science and Technology Innovation Board. It is not ruled out that there will be buybacks by listed companies in the next few trading days. The Science and Technology Innovation Board was announced in 2018 and officially established in 2019. It has been in operation for four years. Judging from the growth reflected in financial reports over the years, the growth of the Science and Technology Innovation Board is very good. It's just that the initial IPO price is too high and valuation needs to be digested, so there is no overall market. The lack of investor thresholds and foreign investment channels, and the relatively single market participants also limit the liquidity of the Science and Technology Innovation Board. As for the lifting of the ban and the reduction of holdings, as listed companies gradually enter the lifting period, some venture capital funds will be withdrawn according to the investment cycle, which has little to do with being bullish and bearish. From a pragmatic point of view, the current low-level reduction is more friendly to the secondary level than the high-level reduction in the future. The same is true from the perspective of market makers, who would rather take Xiaofei's bargaining chips at a low position than at a high position. As for the reduction of holdings by major shareholders, if it falls below the issue price, it needs to be postponed to reduce the holdings. The rules are very clear, so it is understandable to actively increase holdings, and there is a demand to maintain the stock price not lower than the issue price. As for the small repurchase amount, these companies themselves have no money, and entrepreneurial companies are very interesting. At this time, the village chose 688 to take the lead in increasing its holdings, instead of 600, 000, and 300, which is very oriented. This is like the daily limit of CITIC Securities after the active capital market was proposed, which is self-evident. It is enough to observe the changes in ETF shares in the follow-up. In recent weeks, there are still a lot of funds for bottom-buying through ETFs, depending on the sustainability. The BRICS meeting is about to be held. Judging from the countries that intend to join the BRICS, the BRICS is more and more like an open platform for South-South cooperation. No matter what contradictions these developing countries have when they are one-on-one, under the North-South framework, South-South still have highly similar interest positions. For example, in the international monetary system, developing countries have very little voice and poor financial autonomy. Although it will be more difficult to obtain the currency of the BRIC, it will take a long time. But it is not that difficult to come up with a settlement system that is divorced from the US dollar. The renminbi is relatively stable among the South-South currencies, and it has really become a BRICS settlement system, which is a good thing for the renminbi. Of course, in the initial stage of currency replacement, we only exchange out, and there is no stage of return. It is inevitable that our exchange rate will be under pressure. The market is still relatively weak at the moment, and it doesn’t matter whether there is feedback on the BRICs. There is also the expectation of the Belt and Road Summit in the future, which is worth continuing to follow. A few days ago, I also talked about the leveling of losses after the main decline in the index. As far as the current index is concerned, some people who read the picture shouted that this is the bottom, and some shouted that it will fall below 3000. In fact, this is not important. What is important is that the main decline in the index under pessimistic expectations has been completed. Even if the subsequent strong sectors follow the trend of sharing losses and the index continues to pull back, as long as the trading volume rises and the profit-making effect is generated in rotation, the market will gradually get out of pessimistic expectations. Or to put it more bluntly, subsequent adjustments are a matter of time rather than space. As for each round of the market, it is also because some sectors bottomed out before the index, and then pulled the index back up. Just find this kind of structure that rises first to participate, and there is no need to worry about where the index bottoms out. Short-term will do, here can be more positive. Medium and long-term ones can also take their time. Typos are not changed, code these first. #ContentStar##A股#

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