TechFlow news, on January 21, according to Jinshi Data, Shanghai gold futures continued to rise during the morning session, now up over 3%. A research report from Xinhu Futures on January 21 indicated that the Greenland incident continues to escalate, with the European Parliament freezing the ratification process of the previously reached U.S.-EU trade agreement, leading to sharp declines in both European and American stock markets, while precious metals such as gold and silver surged significantly. On Wednesday local time, the U.S. Supreme Court began hearing "Trump v. Koocher," with Powell making a rare appearance, drawing attention to the Federal Reserve's independence. Meanwhile, Bessent stated that Trump is expected to finalize the next Federal Reserve chairperson as early as next week, with former Fed official Wars having the highest probability of appointment. In the short term, geopolitical uncertainties persist as the Greenland incident continues to unfold, providing some support to prices of precious metals like gold and silver due to heightened risk-averse sentiment. Medium to long term, central bank gold purchases remain sustained, coupled with global monetary expansion and an irreversible, even accelerating trend toward de-dollarization, which will continue supporting a higher center of gravity for precious metal prices, suggesting that precious metals may remain strong going forward.
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