Everbright Futures: Liquidity Improves After the New Year, Gold Remains in a High-Level Consolidation Pattern

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On February 25th, COMEX gold continued to fluctuate at high levels, closing at $5,183.7 per ounce, up 0.14%. The domestic SHFE gold night trading saw a slight increase, closing at ¥1,153.90 per gram, up 0.65%. In terms of geopolitical developments, the third round of US-Iran negotiations is about to take place. Trump wants to hear a commitment of “never nuclear” from Iran, while Vice President Pence stated that the US is hopeful about the negotiations but does not rule out the possibility of military action. With the market reducing expectations of future Federal Reserve rate cuts, geopolitical issues have become a focus for gold. It is expected to remain volatile around $5,000 per ounce, with high-range fluctuations. Attention should be paid to the progress of US-Iran negotiations this week. (Everbright Futures)

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