The Euro Area Is Again Clouded With Gold.

The European Central Bank suddenly reported to Greece that it had no longer accepted the Greek government bonds issued by Greek banks as collateral to borrow money. That is to say, although the Greek finance ministers had agreed to make an agreement with their creditors in the way of debt replacement, it seemed to be Greek wishful thinking. The European central bank's move also completely eliminated Greece's golden dreams.

The ECB says it will not accept Greece.

The reason for the collateral is that the rating of the Greek government bonds has been rated junk, and the level of treasury bonds is simply not able to meet the minimum standards of the European Central Bank.

In such a case, if the Greek banks want to get the money, it seems to consider the ECB's emergency loan plan, but the interest rate will also be higher, and the credit risk of the loan will also be borne by the Central Bank of Greece.

Gold prices surged yesterday in the range of $1270 / ounce and $1260 / ounce. After the ECB suddenly announced that it would no longer accept Greek bonds as collateral for loans, gold's hedging function appeared again, and gold prices climbed to more than 1270 dollars / ounce.

yesterday

Strong performance, data from the United States in January ISM non Manufacturing Purchasing Managers Index was 56.7, higher than expected 56.3.

In a congressional hearing, the US Treasury Secretary said that the US economy has recovered and can continue to develop healthily on its own. The only thing we need to worry about is that we cannot make the United States as the world.

The only driving force that alone supports is unfavorable to long-term development.

From the DXY 15 minute graph, DXY returned to 93.71 resistance level yesterday. After a slight hovering at this level, the strong rise broke through the 94 integer pass, and once returned to last week's important resistance level 94.40.

DXY is still on the rise. DXY is likely to climb again today, thanks to the decline in Greece's debt problem, with a 94.50 resistance above.

Gold prices fluctuated on the previous trading day, showing a slight upward trend.

Much of this weak upward trend is also attributable to the Greek debt crisis in the euro area.

Because of the sudden collapse of the European Central Bank to Greece, the debt problem of Greece has increased again, and the market has become more and more panic about the euro area.

From the XAUUSD 15 minute chart, gold climbed from $1260 / ounce to over $1270 / ounce, and gold prices rose by over 10 dollars.

But because of the strong fundamentals of the US economy and the revival of the employment market, it is certain that this non-agricultural data will have a great impact on the price of gold.