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Original title: Gold 1700 Supports Three Positive White House Health Executives, Trump Tweeted Over 100 Points a Day Citing Obama’s “Conspiracy Theory”
FX168 Financial News (Hong Kong) reported on Monday (May 11) that the internationalGold priceThe 1700 mark was maintained throughout the day, and the highest level in the European press reached 1712.30. Intraday volatility was almost $ 11 per ounce. Signs of the new coronavirus epidemic in some countries have raised market expectations for new stimulus policies and lower interest rates.
According to Reuters, a small-scale outbreak occurred in northeast China: the city of Shulan, Jilin province, was reclassified as high risk last Saturday; South Korea also warned of the second wave of the outbreak last weekend, and Germany as well. After announcing the relaxation of social restrictions, new infections occurred again, prompting gold bulls to dare to take it at once. light.
Additionally, non-farm data from the United States in April recorded a loss of 20.5 million, the largest decline since the Great Depression, revealing the economic and human tragedy caused by the epidemic.
The head of the International Monetary Fund last Friday also hinted that the global economic forecast could be revised downward, warning that escalating global trade tensions could weaken the economic rebound.
In the European market, British Prime Minister Johnson announced the second phase of the outbreak plan last weekend, saying he will continue to maintain the blockade for 3 weeks, but while maintaining social isolation, a small number of flexible activities are allowed. June and July will gradually relax depending on the situation. Blocking
German data shows that German exports fell 11.8% in March, setting the biggest decline since the 1990 record.
Regarding the performance of the golden day, brokerage market analyst IG Kyle Rodda noted: “The market has bought on declines. Even in the best situation, we are still in an environment where interest rates will remain extremely low. Policy fiscal will continue to be quite flexible and inflation will be high. “
Kyle believes that in the longer-term forecast, gold tends to rise to a higher position. Investors are trying to invest before the next gold step, and there is plenty of technical support at the 1700 level.
Ajay Kedia, director of Kedia Commodities in Mumbai, India, said: “Gold needs a fundamental new stimulus. Unless we get a new stimulus, the price of gold is expected to return to the 1680 line in the short term.
Gold market outlook:
Investors are currently focusing on whether the epidemic will peak after the blockade gradually eases, delaying the economic rebound and intensifying stimulus policies.
Technically the 200 hour gold MA gave the bulls timely support to stabilize above 1700, however a break below 1690 will cause the gold price to face further weakness, awaiting the 1683-82 test. , and then the first line of 1670.
Stabilizing 1700 means that the level of 1711 seems to become a resistance level for bulls to attack more. Before regaining full momentum, gold resistance in the front line of 1721 may cause prices to maintain the current daily consolidation pattern.
If you can continue through 1722, the price of 1748 should not be discounted.
Focus of the day:
(1) Epidemics in the United States
As of publication in Europe, according to Worldmeters data, there are almost 4.2 million new crown cases worldwide, more than 280,000 deaths, and more than 1.36 million cases in the United States.
However, according to US media CNN, the emergence of a new crown in the White House is undermining President Trump’s plan to reopen the economy and test its importance.
According to the latest news, the top three White House health officials, including Dr. Foch, are members of the outbreak working group. They have also been tested for infection with the new coronavirus and are being quarantined in some way.
The alarm also casts a necessary question: If no one near Trump is protected in the safest place in the United States, how do you ensure that other people return to work safely?
CNN said sources said Trump was concerned that virus-infected aides weakened news of the epidemic’s spread, and Trump asked why his aides were not required to wear masks earlier this week.
At the same time, Trump also revealed to the crowd that he does not want to be around those who have not been tested.
However, most Americans, those voters who will play a major role in the November election, do not have access to active and repeated White House testing and contact tracking.
Trump has also contested that the test must be resolved by the governors of each state and has repeated the dilution of the importance of the tests. Even if experts point out that determining the penetration of the epidemic is crucial, a new wave of spikes must be ensured to ensure that normal life begins to resume.
CNN also noted that figures from experts like Birx and Dr. Foch have appeared less frequently recently, and the overview of the outbreak working group has been replaced by the media meeting of White House press minister Kayleigh. McEnany.
However, Trump and his top officials are expected to continue to hold a briefing on the outbreak.
(2) Tweeting over 100 articles a day, focusing on complaints about investigations across Russia …
According to British media reports, under the plight of nearly 80,000 deaths from the U.S. epidemic last weekend, Trump tweeted more than 100 times a day, most of them complaining about the Russia-Russia gate investigation. . Former defense security adviser Michael Flunn was fired by Trump because he admitted lying to the FBI.
Trump’s tweet rate plummeted in Flynn’s case last weekend, and most of them claimed that the Obama team attempted to frame then-President Trump.
Trump wrote: “This is by far the largest political crime in the history of the United States.”
The United States Department of Justice announced Thursday that the charges against Flynn were dropped, raising public concerns about judicial independence, and Trump also quickly promoted several statements about the Obama administration conspiracy.
One of the tweets simply wrote “OBAMAGATE” —- Omaba Gate.
