Gold investment: why doesn’t gold go up instead of down? Donald Trump has a big speech today

Spot gold traded at $1,576.80 an ounce in Asia on Tuesday. As risk aversion continued to spread due to a new outbreak of coronavirus pneumonia, gold prices tumbled as low as $1,569.62 an ounce in the previous session. This trading day at present, the gold price temporarily presents the shock consolidation trend.

Ole Hansen, head of commodities strategy at Saxo Bank, said it was one thing for the market to be somewhat concerned about a global economic slowdown, but in the short term, this could hurt physical demand for gold (jewelry and even official buying demand), which would limit gold prices. Silver, meanwhile, is threatened by growth concerns because of its heavy reliance on industrial demand.

According to the national guard is built appoint on February 4, according to the latest figures on February 3, 0 to 24, 31 provinces (autonomous regions and municipalities directly under the central government) and the xinjiang production and construction corps report new confirmed cases, 3235 cases (2345 cases), hubei province, the new severe cases 492 cases (442 cases), hubei province, the new death cases, 64 cases (64 cases), hubei province, the new hospital cured cases 157 cases (101 cases), hubei province, the new suspected cases 5072 cases (3182 cases) of hubei province.

By 2:00 am on February 3, the national health commission had received a total of 20,438 confirmed cases (two of which were canceled in heilongjiang province) from 31 provinces (autonomous regions and municipalities directly under the central government) and the xinjiang production and construction corps.

So far, a total of 221,015 close contacts have been traced, and 12,755 people have been released from medical observation on the same day. Currently, 171,329 people are under medical observation. We have received a total of 33 confirmed cases from Hong Kong, Macao, and Taiwan: 15 from the Hong Kong special administrative region, 8 from the Macao special administrative region and 10 from the Taiwan region.

Next, the market needs to continue to pay attention to the progress of the pneumonia outbreak in wuhan, and be alert to the market mood change again to trigger market volatility.

Meanwhile, Mr. Trump will deliver his third state of the union address to a joint session of Congress on Tuesday, with the theme of “the return of great America”.

He is widely expected to use the occasion to deliver a message to Democrats to “end the fight and work together for the American people”. In addition, the state of the union may have five other priorities, including blue-collar prosperity, supporting working families, lower health care costs, a secure and legal immigration system, and national security. Investors need to keep a close eye on Mr. Trump’s speech.

Technical analysis:

The dollar

On the daily chart, the dollar index is stuck in a choppy collation, with the MACD red momentum column unchanged and the KDJ random index turning higher, indicating mixed dollar momentum or a period of consolidation.

On the 4-hour chart, the dollar index maintained its rally trend since the short-term low, with the MACD red momentum column expanding slightly and the KDJ random index continuing to move higher, indicating that the dollar’s short-term rally momentum remains and that the rally may continue.

gold

On the daily chart, gold maintained its recent rally and continued to hold above its 20-day moving average. Technically, the MACD green kinetic energy column remained unchanged, while the KDJ random index turned lower, indicating a possible pullback in gold prices.

On the 4-hour chart, gold temporarily settled in a narrow range, with the MACD green kinetic energy column unchanged and the KDJ random index moderately flat, indicating that gold may fall into a narrow range consolidation in the short term.

Fundamentals favorable factors:

  1. As of 24:00 on February 3, the national health commission had received a total of 20,438 confirmed cases (2 cases were canceled in Heilongjiang province) from 31 provinces (autonomous regions and municipalities directly under the central government) and the xinjiang production and construction corps, with 2,788 severe cases, 425 deaths, 632 cured and discharged, and 23,214 suspected cases.
  2. Officials at the U.S. centers for disease control and prevention (CDC) confirmed that 11 cases have been confirmed in the United States, two of which were transmitted through human contact within the country.

3. So far, 10,000 Americans have died from the flu, as a new coronavirus wreaths havoc and world leaders close borders to protect their citizens from the disease, according to a new CNBC report.

4.The world health organization’s director-general tandsai said it was “dangerous” that the world might not be prepared for the next pandemic.

Fundamental negative factors:

  1. The institute for supply management said on Monday that the ISM manufacturing PMI rose to 50.9 in January, the highest since July, from 47.8 in December. A reading above 50 indicates expansion in manufacturing, which accounts for 11 percent of the U.S. economy. The ISM index has been below 50 for five straight months. Analysts surveyed had expected the index to rise to 48.5 in January from 47.2 in December.

2. At 23:00 local time on January 31 (24:00 Brussels time on January 31, 07:00 Beijing time on February 1), the UK officially left the eu, becoming the first country in history to leave the eu.

3. Data released on Friday showed U.S. consumer confidence slightly higher than expected and close to a cyclical peak on the back of a strong job market and strong income growth.

4. The personal consumption expenditure (PCE) price index, released on Friday, rose 0.3 percent in December from the previous month, the biggest gain since April. U.S. prices rose 1.6 percent in December from a year earlier, the biggest gain in a year.

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