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Precious Metals Market under Uncertainty Tan Yaling China Forex Investment Research Institute Shanghai Futures Exchange Precious Metals International Seminar May 28th, 2021 Situation analysis and clear reasoning under a context of uncertainty ? 1. Complicated situations: too simple and shortsighted arguing and lots of platitudes。 ? 2. Unprecedented circumstances: conventional, superficial and scripted estimations。 ? US Dollar is a powerful currency that boasts the capabilities and insights to govern the market (very strong position). ? US Dollar is also a problematic currency that is built on the contradicts and risks arising from the uneven basis and global plundering (huge risk). I. Basis of shortterm gold unchanged ? 1. Supported by