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In early Asian trading on Thursday (Oct 15), spot gold opened at $ 189.26 an ounce, peaking at $ 1902.72 and then began to decline. As of press time at 10:10 am Beijing time, it is now reported at $ 1,896.33 per ounce, an intraday drop of 0.28%. Spot gold fluctuated repeatedly on Wednesday. It once fell to a daily low of $ 1,882 during the Asian market. It once fell below $ 1,900 on the day, but eventually rebounded and closed 0.53% higher at $ 1901.3 an ounce. With the multiple risks ahead, beware that gold will face more tests today!
★★★ Overnight summary of important international news
Trump’s 14-year-old son was infected with the new crown
According to the first lady of the United States, Melania, she and Trump’s 14-year-old son Barron had been infected with the new crown, but had no symptoms. The White House initially stated that his parents tested positive earlier this month, but he tested negative. The first lady recently revealed that subsequent tests showed Barron was also infected with Covid-19. Melania said: “Fortunately, he is a strong teenager and shows no symptoms. In a sense, I am very happy that the three of us experienced this at the same time so that we can take care of each other. There was time to be together. He later tested negative. “
Britain softens with Brexit trade talks
On Wednesday, EU Internal Market Commissioner Breton declared that the EU is ready for a no-deal Brexit; EU leaders called on Brexit negotiators to strengthen negotiations to reach a deal and implement the deal from January 1, 2021. Britain said it would not immediately abandon trade negotiations with the EU, which indicates that his attitude softened. British Prime Minister Slack’s spokesman said there are still differences in trade negotiations with the EU and that the fisheries issue is the most serious. The UK will decide the next step after the EU summit.
Trump Seeks Emergency Approval for Drug Regeneron
Trump said he is seeking urgent approval to use Regeneron, a US biopharmaceutical company. Trump said last week that his speedy recovery depends on the regenerative antibody therapy trial drug, which has attracted a lot of attention.
US Secretary of the Treasury Mnuchin: It is difficult to reach an agreement before the elections
US Treasury Secretary Mnuchin said there are still big differences on certain issues in the stimulus negotiations, and we will continue to make progress on certain issues. It is difficult to reach an agreement before the elections. GDP is expected to be “very strong” and there will still be a V-shaped recovery, and we are still committed to studying a comprehensive stimulus package.
Fed Vice Chairman Clarida: May need more monetary and fiscal policies
Fed Vice President Clarida said the economic outlook remains uncertain, depending on the status of the epidemic. The Kaplan official said future Fed policymakers will need to embrace more flexibility. Fed Barkin emphasized that the Fed will work to keep interest rates low until it sees a moderate overshoot in inflation.
EU approval to take countermeasures against US goods and services
According to CCTV, at 13 local time, the World Trade Organization ruled that the EU can take countermeasures against nearly $ 4 billion (approximately 27 billion yuan) of US goods and services each year.
IEA: Oil demand is back to 94% of 2019 levels
The IEA released its monthly report on Wednesday. It is optimistic that oil demand has returned to 94% of the level in 2019, however, the crude oil demand forecast for the third quarter of 2020 is still revised downwards by 140,000 barrels per day. World oil demand is still expected to fall by 840 year-on-year in 2020. Ten thousand barrels per day. By 2021, the refining industry will only see a partial rebound.
Saudi Arabia and Russia continue to emphasize implementation of crude oil production reduction commitments
Official Saudi media reported that Saudi Crown Prince Mohammed bin Salman and Russian President Putin agreed during the phone call that it is important for OPEC + to continue cooperating to comply with the production reduction agreement. Russian Energy Minister Novak stated that OPEC + remains optimistic and will stick with the deal when the epidemic is on the rise.
API report: US inventories fell more than expected
The API report shows that US crude oil imports increased by 23,000 barrels per day last week, slowing the growth rate. Crude oil inventories fell 5.421 million barrels to 495.4 million barrels, showing that US crude inventories fell more than expected. After the data was released, oil from the United States and Burundi rose slightly.
OECD: The outlook for the UK economy is bleaker than the Bank of England expected
The OECD said the increase in cases of new coronavirus infections and the absence of a trade deal from the European Union means the UK faces significant downside risks.
The German Ministry of Economy is optimistic about the economic growth of Germany in the third quarter
The German Economy Ministry expects the German economy to experience “the highest quarterly growth rate in history” in the third quarter. However, the top five German research institutes said that the recession caused by the new corona epidemic is more severe than expected and that the German economy will not recover until the end of 2022.
IMF: Global Debt Level Hits Record, Proposes Tax on Rich
In the latest “Financial Monitoring Report,” the IMF specifically emphasized the risk of rising debt facing the world economy and the threat of high levels of global unemployment and tens of millions of people falling into extreme poverty. The IMF recommends considering higher taxes for wealthy groups and high-profit companies.
Tesla cuts Model S prices for the second time in a week
Tesla CEO Elon Musk announced on social media that the price of the Model S has dropped to $ 69,420, the second price reduction this week. Earlier on Tuesday, Tesla lowered the starting price of the long-lasting upgraded version of the Model S by $ 3,000 to $ 71,900.
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