On Monday (December 28) in the Asian market, the DOLLAR index fell slightly, spot gold rose sharply in the short term, gold just broke through the $1,900 an ounce barrier. President Donald Trump has signed a bailout bill, the federal government has avoided a shutdown, and positive developments in the US fiscal stimulus have sparked investor demand for gold. In addition, investors continue to pay attention to the latest development of the mutation irus from the Novel Coronavirus. Following the emergence of a highly contagious irus from the UK, related infection cases have been found in more than 10 countries.
US President Donald Trump has signed into law a $2.3 trillion coA bailout bill ($900 billion) and the 2021 fiscal year budget ($1.4 trillion), the White House said in a statement on Dec 27. On December 22, Trump vetoed the omnibus package and asked Congress to revise unnecessary components of the NOVEL Coronavirus Bailout bill, saying too much money had been allocated to foreign aid and domestic projects unrelated to the novel Coronavirus pandemic.
US President Donald Trump has signed the COVID-19 relief bill into law, according to a report by THE Associated Press on December 28. President Trump has signed into law a $900 billion pandemic plan that provides long-sought funding to businesses and individuals.
CNBC also reported that US President Donald Trump had signed into law the new Corona-bailout bill and the federal government’s comprehensive spending bill.
Mr Trump signed into law a comprehensive COVID-19 rescue bill, according to people familiar with the matter, ending the impasse with Congress and paving the way for millions of Americans to receive financial assistance as COVID-19 sweeps the country.
According to AFP, a White House spokesman confirmed that US President Donald Trump has signed the COVID-19 relief Bill. The COVID-19 relief bill includes more than $900 billion for individuals and small businesses.
Spot gold rallied sharply on the news, with gold just breaking through the $1,900 an ounce barrier and hitting as high as $1,900.19 an ounce.
According to the Website AXIOS, Republicans familiar with the matter said Trump had signaled he would sign the stimulus bill to extend unemployment benefits and avoid a government shutdown.
Mr Trump tweeted late on December 27th that “good news” was coming about the $900bn package he had refused to sign. “Good news for the COVID-19 bailout,” Mr Trump wrote on Twitter. There will be more information.”
Over the weekend, US politicians were urging Mr Trump to sign the $900bn new Champions bailout bill, according to US media. Mr Biden said on December 26 it would be “devastating” if Mr Trump continued to delay signing the COVID-19 bill.
Late on The night of December 21 local time, both houses of the US Congress passed a spending package totaling about $2.3 trillion to combat the COVID-19 epidemic. It is one of the largest bills ever passed by the U.S. Congress, including an estimated $900 billion epidemic economic rescue bill and a $1.4 trillion budget bill for fiscal year 2021.
However, Mr Trump on December 22 threatened that he might not sign the new $900bn rescue bill passed by the US Congress. Mr Trump said he would ask Congress to “fix” the bill, increase the size of stimulus checks and eliminate wasteful spending.
Mr Trump has said he will ask Congress to amend the newly passed $900bn New Champions Bailout bill, saying it contains too much foreign aid and not enough for struggling Americans. Mr Trump has asked members of Congress to increase the amount of stimulus checks that most Americans can receive from an “absurdly low” $600 to $2,000, or $4,000 for couples. Negative developments in the US fiscal stimulus package put some downward pressure on gold prices, which briefly approached the $1,850 an ounce level last week.
Democrats moved to increase stimulus checks after Trump threatened to oppose $2 trillion in anti-epidemic aid and federal funding bills. House Speaker Nancy Pelosi came out in support of Mr. Trump’s proposal and called on Democratic lawmakers to support it. Democrats in the House of Representatives tried to pass a new bill at a formal meeting on December 24th that would have raised the $600 per person to $2,000, but the bill was blocked by Republicans.
Despite last week’s setbacks, some market participants had long expected the stimulus bill to eventually become law.
“Investors are quite optimistic about fiscal and monetary support from governments around the world,” UBS analyst Giovanni Staunovo said last week. Gold, considered a hedge against inflation and currency depreciation, is up more than 23% this year, helped by massive stimulus measures.
“Our base case is still that what congress passes will become law,” said Ed Mills, an analyst at Raymond James.
Jigar Trivedi, commodities analyst at Anand Rathi Shares, a Mumbai broker, said: “The market is hoping that the stimulus package will be passed and that should support gold higher.”
Novel Coronavirus has spread to more than 10 countries
The COVID-19 virus, which emerged in the UK, has recently spread to other countries, including Denmark, Germany, Switzerland, France, Belgium, Australia, the Netherlands, Japan, Spain and Canada. South Korea’s latest announcement said the country has also found cases of the infection. According to statistics, novel Coronavirus infected patients have been found in more than ten countries.
On December 22, local time, WORLD Health Organization (WHO) released relevant information on novel Coronavirus reported in the United Kingdom. On 14 December, the United Kingdom reported to WHO that a new novel Coronavirus variant had been discovered through viral gene sequencing. Preliminary analysis showed that the variant was more likely to spread from person to person, with an estimated 40 to 70 percent increase in infectivity and 0.4 in the transmission index between 1.5 and 1.7.
On December 27, novel Coronavirus infected patients with mutation were announced in many countries. Among them, Portugal found that “tourists from the UK confirmed the infection of the mutant strain found in the UK”; Novel Coronavirus (NOVEL CORonavirus) was found in two tourists arriving from England. The genetic sequence of the novel coronavirus is the same as that of the novel virus spreading in England.
The Italian health ministry announced on December 26 that 14 patients in Italy have been found to be positive for the novel coronavirus (COVID-19), which was confirmed in the UK.
The first case of mutated novel Coronavirus infection was reported on 26 December in Sweden. The case is reported to be a traveller from the UK and is being quarantined.
The Ministry of Health, Labour and Welfare (MHP) announced on December 25 that a patient with a novel mutation coronavirus was diagnosed for the first time in Japan. According to NHK, samples from five patients infected with a novel Coronavirus found in the UK were found to have been infected with a mutant novel coronavirus in an airport quarantine office in Japan. Novel coronavirus novel mutation appeared for the first time outside the quarantine area of an airport in Japan on December 26. Japan has announced a global moratorium on new arrivals until the end of January 2021 to prevent the virus from entering the country.
According to the Nihon Keizai Shimbun of 26 December, the Government of Japan announced on 26 December that new entries from all countries and territories would be suspended from 28 December in order to prevent the spread of the more infectious British mutation novel Coronavirus. Japanese citizens, permanent foreigners and business people from some countries and regions are not affected by this policy.
Novel Coronavirus variants “are likely to have spread across the United States and may have a significant number by now,” said former FDA Commissioner Scott Gottlieb on December 27. Novel Coronavirus, a mutation first discovered in the UK, may have spread in the US, CDC said on Dec 22.
The Canadian Department of Health said on 26 December that two cases of the novel Coronavirus mutation were confirmed in Canada. Scientists say the mutated COVID-19 is 40 to 70 percent more transmissible than the original virus.
Ontario’s deputy chief medical officer, Barbara Yaffe, said in a statement: “These two cases are a couple from the Durham area who have no recent known travel history, exposure history or high risk contacts.” The couple has been quarantined, the statement said. On the same day, Ontario implemented a provincial closure due to a surge in COVID-19 cases in the province since early December. Ontario became the first province in Canada to discover a mutation novel Coronavirus case.
South Korean authorities said Monday that the country has detected its first case of COVID-19 infection, local media reported on December 28.
A novel Coronavirus mutation was found in the samples of patients with confirmed NOVEL coronavirus who arrived from the UK on December 22, said the Central Epidemic Prevention Countermeasures Division of the Korea Office of Disease Management on December 28. The three, a family living in London, were confirmed during immigration tests and are currently under quarantine.