XAUUSD
Gold plummeted $20 last week, and the 1300 mark was lost. Gold fell 1 percent on Friday to its lowest level since the end of January and is likely to record its biggest weekly drop in six and a half months as the dollar rebounded and global stock markets rose to stimulate risk-taking. Short-term spot gold plunged more than $20 in U.S. trading to break the $1300-an-ounce mark, hitting as low as $1289.91 an ounce and more than $25 below the day's highs. Gold prices fell below the $1300 critical level for the first time since January 28. Gold has fallen about 2 percent since last week, its biggest drop since August 17.
Last Thursday (Feb. 28), the global high-profile summit between the United States and North Korea revealed an accident: president Trump and North Korea's supreme leader Kim Jong-un abruptly ended the summit, the White House issued a statement saying the two sides have not reached an agreement. Trump and Kim Jong-un reportedly ended their meetings early, cancelled lunch, returned to their hotels and cancelled the signing ceremony. White House speaker Sanders said Trump journalist would be advanced from 4 p.m. local time to 2 p.m. (3 p.m. Beijing time).
At a journalist meeting following the meeting, Trump said the meeting over the past two days had been "productive" but had "not signed anything," the Xinhua news agency reported. The two sides had many options, but decided not to implement any of them at the moment. He said the two sides have not reached agreement on issues related to lifting the scope of sanctions against North Korea. In the context of the failure to reach a final agreement at the "Kindt meeting," at about 00:15 local time on March 1, a North Korean delegation attending the second North Korean-US leaders' meeting in Hanoi, Vietnam, abruptly convened a press conference in Hanoi, Vietnam, to hold a press conference late at night. This rare move surprised the outside world. North Korean Foreign Minister Lee Yong-ho held a journalist meeting in the early morning of that day at Kim Jong-un's hotel. Li Yung-ho denied Trump's claim that Kim Jong-un called for the complete lifting of all economic sanctions, and insisted North Korea had made "practical proposals" to the United States to launch the denuclearization process. News that the US and North Korea failed to reach an agreement weighed down risk sentiment, with spot gold returning to the 1320 level and rising to close to $1325 as the dollar fell.
Figure 1: gold dollar 4-hour chart
