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The preliminary figures for the Eurozones December PPI month-on-month rate, January CPI year-on-year rate, and month-on-month rate will be released in ten minutes.The China Earthquake Networks Center officially determined that a magnitude 3.3 earthquake occurred at 17:39 on February 4 in Dujiangyan City, Chengdu, Sichuan Province (31.25 degrees north latitude, 103.62 degrees east longitude), with a focal depth of 9 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.1 occurred at 17:39 on February 4 near Dujiangyan City, Chengdu, Sichuan Province (31.24°N, 103.63°E). The final result is subject to the official rapid report.February 4th - A survey conducted on Wednesday showed that UK service sector activity grew strongly in January, with business confidence rising, but prices also rose significantly, potentially posing a concern ahead of the Bank of Englands interest rate decision this week. The UK services PMI rose to 54.0 in January, the highest since August 2025, slightly below the initial reading of 54.3. Future output expectations rose to their strongest level since October 2024. Tim Moore, head of economics at S&P Global Market Intelligence, said some businesses reported that policy clarity following the budget helped boost confidence. The composite PMI rose to 53.7 in January, the highest since August 2024, above Decembers 51.4, but below the initial reading of 53.9. Overall, service sector export orders grew at the second fastest pace since October 2024. Moore said: "The latest survey shows that the UK service sector is set for an encouraging start to 2026, following a weak start at the end of last year. However, the outlook for the labor market is again pessimistic, with companies trying to offset rising labor costs by declining hiring at a faster pace in January."The UKs official reserves changed by $7.472 billion in January, compared with $1.515 billion in the previous month.

International gold prices still look at US$1,727

Oct 26, 2021 10:59

On Thursday (October 7), international gold prices continue to be under pressure, and the market outlook is still looking at $1,727. However, the weak upside of the U.S. index limited the decline in gold prices. Investors turned to wait and see before the US non-farm payrolls report was released, and it is expected that the report will provide clues to the Fed's reduction schedule.

At 14:20 GMT+8, spot gold fell 0.11% to US$1760.81 per ounce; the main COMEX gold contract fell 0.03% to US$1761.2 per ounce; the US dollar index fell 0.01% to 94.218.


Investors turned to the US non-agricultural employment data to be released on Friday (October 8), which is expected to show an improvement in the labor market, which is an important criterion for the Fed to begin to reduce support measures during the epidemic. Data released overnight showed that private employment in the United States increased strongly in September.

Bob Haberkorn, senior market strategist at RJO Futures, said: “Gold’s hedging appeal is not as attractive as other safe assets, and its performance largely depends on US non-agricultural employment data. Prior to this, the price of gold may be trending sideways.”

Fu Xiao, director of the Commodity Strategy Department of BOC International, said that even though the non-agricultural employment data is “not beautiful, but just in line with expectations,” some Fed members have believed that the conditions for reducing debt purchases have been met, which has put pressure on gold.

On the daily chart, the price of gold has started a three-wave downward trend from US$1770. The support below looks to the 23.6% target of US$1744 and the 38.2% target of US$1727. Wave 3 is a sub-wave of the downward (3) wave that started at $1834. (3) Wave is a sub-wave of the downward ((Y)) wave that started from 1917 USD. The ((Y)) wave belongs to the adjusted IV wave that started at $2,075.

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