From a technical point of view, gold closed in a short-term bullish pattern last Friday, and gold bulls once again grasped the advantage, which severely hit short-term confidence, which means that more technology traders and investors will enter the market this week. At the same time, the market speculated that the Fed might slow down the rate hike. This expectation depressed the yields of US dollars and US bonds, while the price of gold rose to a one-month high and the price of base metals also rose. Economists at Goldman Sachs even said that considering the current tension in the banking system, they no longer expected the Fed to announce a rate hike at its meeting in March. [/h jinrui futures said that last Friday's bankruptcy of Silicon Valley Bank in the United States triggered market panic, which not only aggravated the risk aversion tendency, but also greatly reduced the market's expectation of raising interest rates. The data released last weekend was mixed, and the outlook for the US economy was uncertain. At the same time, the Fed plans to accelerate the pace of raising interest rates. In addition, the inflation data to be released on Tuesday will also affect the Fed's decision. At 1 1:06 am Singapore time, the spot gold price rose by 0.9% to 1885.57 USD/oz, up more than 3% from last Wednesday's closing price. Peng spot index continued to fall by 0.9% after falling by 0.4% last Friday. In addition, compared with the lowest closing price since June 165438+ 10, copper prices rose by 0.8%, aluminum by 0.2% and zinc by 0.5%. Silver rose 1.3%, and palladium surged 2.9%.