The overseas epidemic broke out, and US stocks continued to plunge last night, triggering a circuit breaker for the third time in history, the first in 1987 and the second on March 9, 2020.

It is reported that this is due to a combination of higher valuations of US stocks + investment strategy convergence risk + epidemic spreading outside China + Saudi Arabia's crude oil price war.

In addition, according to preliminary statistics, the Thai stock market, the Philippine stock market, the South Korean stock market, the Pakistan stock market, the Indonesia stock market, and Brazil and other countries' stock markets have melted down. The Brazilian stock index plunged 15%, triggering a second-level circuit breaker today.

The prices of safe-haven precious metals also moved downward.

SunSirs precious metals analyst Jianjun Ye believes that the market's concerns about the economic slowdown have intensified, and the failure of the European Central Bank to cut interest rates as scheduled has exacerbated the market's disappointment. The investment market panic, the precious metal prices in the early period are high, the risk aversion function is weakened, and cash is king.

The precious metals of the future market show the nature of risk aversion. On the one hand, we watch the dynamic changes in the physical demand and supply of precious metals, and on the other hand, we look at the factors of the capital. Drive investment demand for precious metals.

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