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Original Title: Highlight Falls in Golden Month! US Labor Market Worsens, Risk of Pfizer Vaccine Allergy Rises
FX168 Financial News (Hong Kong) Huang NewsGold priceThe grid cautiously hovered flat around $ 1,880, with the Asian market looking particularly quiet in early trading. After the signal campaign of the final Fed meeting ended, the US labor market deteriorated and the unemployment rate rose to support the cautious uptrend in the US, along with continued coverage of the Quantitative easing and huge deficits in the United States, has boosted gold buyer sentiment. The price of gold quietly rose to more than $ 20, which is 1.1%. Global investors obviously remain pessimistic about key signals. The deadlock between the economic stimulus plan of the new US crown and Brexit remains difficult to solve in a short time.
At 09:07 before the deadline, gold fell 0.18% to $ 1,882.50.
Fundamental Analysis: US Labor Market Deterioration, Unemployment Rate Higher Than Expected
The United States had previously expected the number of people receiving unemployment benefits to fall to 808,000, but as of the week of December 12, the number of people receiving unemployment benefits in the United States had risen to 885,000, the level highest since Sept. 5. In the past week, the number of people who filed for unemployment in the United States increased by 9,000 to 862,000. The data shows that the US economy continues to deteriorate, which also means that the economy is moving slowly. With the resurgence of the new crown epidemic and the renewal of restrictive measures, the attention of gold buyers to the US job market has also increased rapidly. After the chairman of the Federal Reserve (FED), Powell, published the dovish message, the deterioration of the US labor market is also driving gold prices to continue rising.
The press conference following the final Fed meeting indicated that the US interest rate policy remained unchanged. After holding it in the 0-0.25% range, gold prices rallied during the Asian session and then fell. After European gold traders entered the battlefield, they had time to digest all the content and details of the Fed incident, and it was this delayed response that caused precious metals to bounce at least to the threshold of $ 1880. The price of gold rose to a high in the 1890s, but this was not caused by gold as a safe-haven asset.In fact, after the data came out, risky assets like US stocks were still well supported. . This is reflected in how US bond yields have fallen and inflation expectations have soared from 1.91% to more than 1.93%. In the long term, the pressure on inflation caused by the short-term economic weakness of the new krone will be offset by the inflationary pressure generated by the further relaxation of monetary policy by the Fed.
Looking ahead, given that the Fed wants the United States to keep borrowing costs to a minimum so that the United States government can address the huge deficit, there is a new deadlock in the US economic stimulus plan, which will continue driving inflation expectations while maintaining real interest rates. Low levels and gold prices will be supported. Berkshire Hathaway (Berkshire Hathaway) Vice Chairman Charlie Munger (Charlie Munger) this week called for a cautious look at quantitative easing policies and huge fiscal deficits that have emerged in recent years and warned that the United States is currently in The unknown. In the field, no country has long printed money on a large scale like the United States now, but it won’t cause problems. He believes the United States is already very close to playing with fire.
The 96-year-old portrays the dangers of US government overspending and monetary easing, and the key features investors should pay attention to. He said: “We are currently in uncharted waters. No one can spend money on printing like we do now, and we have had no problems for a long time. I think we are on the verge of playing with fire. An unprecedented currency. The transaction will be dangerous and the Lax and aggressive tax expenditures from the last few months will also have an impact. I still remember having a five-course steak dinner in Omaha as a kid and the price was 60 cents. In fact, it has changed. “
Fundamental Analysis: Pfizer Vaccination With Severe Allergies Becomes First Case Of Alaska Medical Staff
The U.S. Department of Public Health confirmed that an Alaskan medical worker experienced severe allergic reactions, such as skin redness and shortness of breath after being vaccinated with Pfizer and the new corona vaccine from its German partner BioNTech, but the condition has stabilized after treatment. It is similar to the allergic reaction of two British doctors after being vaccinated with the Pfizer vaccine last week, and the latter has also recovered.
The New York Times first reported the news. The British medical oversight agency stated that anyone who has an allergic reaction or severe allergy to food and drugs should not receive the Pfizer vaccine. The US Food and Drug Administration (FDA) emphasized that most Americans with allergic reactions should be sure to receive Pfizer vaccines. They noted that only people who have had a severe allergic reaction to the vaccine or specific components of the vaccine should avoid vaccination. The Alaskan medical worker has no history of allergic reactions. Juneau emergency department director Lindy Jones (Lindy Jones) said: “After receiving the allergic adrenaline treatment, the patient’s symptoms were alleviated by noon and the patient is still under supervision in the hospital.”
Pfizer said its new corona vaccine comes with a clear warning that proper medical treatment and supervision must be provided at all times in the event of an allergic reaction, but if the situation calls for it, the company will also update the label language. of the vaccine. After receiving emergency use authorization last week, Pfizer’s vaccine administration continued in the United States, with the first doses reserved for medical personnel and nursing home residents. Former FDA chief scientist Jesse Goodman said about this allergic reaction that you need to have more information to better understand the risks. He said: “What we need to know is how many doses of the Pfizer vaccine the patient has received and if the incidence of the Pfizer vaccine is higher than other vaccines. We have to find these things so we can know if they are needed. Pfizer changed their recommendations or how to use the recommendations you provided. ”When the first medical staff in the United States discovered severe allergies, the New York Times immediately cited the Alaska Hospital news report on the same day as the second medical staff in the state. He also received first aid after the first dose of the Pfizer vaccine.
The price of gold is expected to continue to rise in the short term, and the next strong resistance is at $ 1,900, which is higher than the $ 1915 area. Although some recent technical indicators are overbought, the current trend still looks strong. On the other hand, falling below $ 1,850 means that the rise in the price of gold has been exhausted and the next support level is $ 1,820.
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