Risk aversion continues to spread, and gold prices accelerate

The supply chain disruption caused to a large extent by Trump's tariff policy has posed a challenge to retailers, which are the main driving force of the US economy. Expectations of a US recession have intensified and dented market confidence in dollar assets. Affected by this, the dollar has plummeted to its lowest level since October last year, and capital flows to safe-haven assets such as the Swiss franc, the Japanese yen and gold have accelerated. Gold has received multiple boosts from risk aversion, inflation expectations, "de-dollarization" and currency value, and the short-term strength pattern may continue under the chaotic situation. It is worth noting that the price of gold is very close to the inflation-adjusted historical high in 1980. After the price accelerates, the profit of funds or the risk of adjusting the high level of the market should be adjusted cautiously in combination with the entry and exit of funds.