Macro driver: strong performance last week for gold and silver

According to the 10xResearch report, last week saw an increase of 6 per cent in gold and silver, respectively, and the rebound of precious metals, driven by weak employment reports, the unexpected announcement by the Ministry of Finance to double long-term debt buy-backs, and the need to avoid risks arising from the unresolved tensions in the United States and Iraq. At the same time, the WTI crude oil increased by 5 per cent, breaking the $87 mark, and Intralap ruled out the resumption of the ceasefire agreement with Iran, keeping the geo-risk premium on the interruption of supply in the Middle East in price. Hong Kong and the health sector have increased by 4 per cent, respectively, despite the fall in the technology unit, which reflects a classic rotational pattern of funds moving from expensive AI/technology units to defensive and value units。