A $5 million American gold card, this is Trump's latest immigration policy. He complained that the previous EB-5 investment immigration policy of investing $500000 to solve 10 job opportunities contained a large amount of fraud. ‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍

As a country of immigration, the United States seeks top talents or wealthy individuals who can not only drive industry leadership, but also solve a large number of employment problems. It does not want more people to come to the United States to work and earn foreign exchange, but to attract more wealthy people to bring employment opportunities. ‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍

Why is Trump's policy so straightforward? ‍‍‍‍‍‍‍‍‍‍

Firstly, the most fundamental point is the rapid growth of US Treasury bonds, which are increasing at a rate surpassing any time in US history. The only way to address the growth rate of US Treasury bonds is to increase revenue or reduce spending. ‍‍‍‍‍‍‍‍

Open source means increasing fiscal revenue. If you earn more, you will naturally have to pay back the money. The way to increase revenue is to boost the economy, such as in the manufacturing industry. The annual fiscal deficit in the United States is because what you earn is not enough to spend. ‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍

Cutting back on unnecessary government spending, such as deploying troops in Europe, providing assistance to Ukraine, and asking allies to provide financial support, is seen as a waste in Trump's eyes. A large number of government jobs have been occupied. This time, it was found that over 360 years old people in the United States are receiving pension insurance, and in a country with over 300 million people, more than 400 million people are receiving social insurance. There is a large amount of fraudulent behavior. ‍‍‍‍

Musk's efficiency department is authorized by Trump to review government departments, lay off personnel who waste money, and save government expenses. This is what Musk and Trump are doing, such as a $5 million immigration gold card, withdrawing European troops, and so on. ‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍

So, US Treasury bonds are the big mountain weighing on the US government and the fundamental driving force behind the sustained rise of gold. Only when the growth rate of US Treasury bonds slows down and the US economy recovers, can market confidence be restored, and only then will gold face a crushing defeat. ‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍

Let's continue talking about the upcoming gold:

On Wednesday, the gold price did not continue to decline, which is in line with my prediction. It remained within the range of fluctuations. The morning rebound seemed very strong, but in fact, the daily line had already broken through the support point of the 10 day moving average. Relying on yesterday's rebound to directly recover the full extent of Monday's decline is obviously not enough. This is also one of the reasons why I think it is not necessary to chase after more yesterday. ‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍

In addition, yesterday the gold price fell again to around 2890, but did not continue. The rapid rebound was actually in the range of 2890-2930. The second rebound only reached around 2920, and the daily level still needs to fluctuate for a few more days. The area around 2890 is the daily BOLL medium range, so there is no need to rush to buy short when you see a decline. ‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍

After 4 hours, the volatile downward trend has not changed. Let's first look at the support at 2890, followed by around 288. The pressure above is in the 2930-20 range, and overall it is still within this range. After the cross of the Wednesday daily line, the key point for the downward trend is now at 2890. Only by breaking through here will we open up downward space, otherwise there is no need to be overly nervous. ‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍‍

Today, I think we can start with the support below 2890 to see a rebound. If the Asian market weakens and the European market does not hold up, then we can consider following the bearish trend before the US market rebound. I think the market is still volatile and there is no need to rush to chase the bearish trend. ‍‍‍‍‍‍‍‍‍