On Monday (September 21) in the Asian session, the DOLLAR index continued to bear pressure, now at around 92.85; Spot gold maintained its upward trend, trading at around $1,953 an ounce after earlier breaking above $1,955. The dollar is weaker now, which is good for gold. In addition, geopolitical tensions, including those in China and India and the Taiwan Strait, have kept the market in a risk-off mood, giving gold further momentum ahead of Monday’s military-ministerial meeting between China and India, which investors will be watching. On the coVID-19 front, the number of confirmed coVID-19 cases in the United States topped 7 million, and many European countries showed signs of a counterattack. The worsening coVID-19 outbreak may make investors more worried about the prospects of global economic recovery, which is also good for gold price trend.
Gold rose for a second straight week last week ona weaker DOLLAR and concerns about the pace of recovery from the novel Coronavirus crisis. Spot gold closed up about $10 last week at around $1,950 an ounce.
Leading financial website Economies.com has written that it is now waiting for gold prices to rise further in the coming days. If gold breaks the first target of $1,1967.90 an ounce, the next target will be $2,88.80. Maintaining gold above $1,934.86 an ounce is important to continue the expected rally.
Analysts and traders are mostly bullish on the outlook for gold this week, according to the FX168 weekly financial Market survey released on Saturday. Among traders and analysts surveyed weekly by financial markets, 60 per cent were bullish on gold, while 20 per cent were bearish and 20 per cent were consolidation.
Bullish sentiment in the gold market remains strong, according to Kitco’s Weekly Gold Survey released on Friday (September 18). Fourteen Wall Street professionals took part in Kitco’s latest survey. Among the participants, seven analysts (50%) expect gold to rise; Six analysts (43%) said they expect gold to move sideways; One analyst (7%) said they expect gold prices to fall this week.
A total of 1,367 people participated in the online survey. Of those surveyed, 829, or 60 per cent, expect gold prices to rise this week. Another 290 (21 percent) are neutral and 248 (18 percent) are bearish.
“Gold bulls need fresh fundamental information to restart the recent upward trend in gold prices,” said Jim Wyckoff, senior technical analyst at Kitco.com.
Looking ahead, George Gero, managing director of RBC Wealth Management, said while he is bullish on gold, he does not see it breaking $2,000 resistance any time soon. “There are enough problems in the world to push gold higher, but because the Fed is not considering new stimulus measures,” he said. Gold is not ready to break out of that range.”
Richard Baker, editor of the Eureka Mining report, said low volatility and a technical outlook pointed to higher prices in the near term. With the dollar still “struggling”, the outlook for gold has also brightened.
Adrian Day, President and CEO of Adrian Day Asset Management, said he is bullish on gold. “There must be enough things in the world to support gold, especially the extremely loose policies of the world’s central Banks,” he said.
The Indian army has occupied six strategic heights for today’s china-India military chiefs’ meeting
According to the latest reports from Indian media such as Opindia.com and India Today, Indian troops have taken up six new heights along the LAC in eastern Ladakh in the border stand-off with China.
Referring to the feat, Opindia.com reported that a government source told the news agency ANI that the Indian army captured the new highlands in just three weeks in mid-september on August 29.
New Delhi: Indian troops have gained the upper hand in the confrontation along the China-India border in the past 20 days, capturing six new mountains from the Chinese border, senior government sources said on Sunday (September 20), India Today reported.
The new uplands include Rachana La, Rezang La, Mokhpari, Gurung Hill, Magar Hill and the largest peak on the Finger 4 ridge. This puts the Indian army in a better position than the Chinese army in the difficult mountain areas. India Today reported that the peaks were the latest strategic locations on the India-China border to be controlled by The Indian army in September.
According to Opindia.com, the Indian army has also foiled plans by the People’s Liberation Army of China to seize the commanding heights and gain an edge over India. However, this led to three incidents of Chinese troops firing from the air from the south to the north of The Lake. It is reported that the highlands occupied by India are on the Indian side of the LINE of Actual Control (LAC), not the Chinese side. To counter India’s strategic position, The Chinese government has deployed 3, 000 troops, including infantry and armour, near Rechen La and the Zangla Heights.
According to Opindia.com, the Chinese military’s operations are being closely monitored by Army Chief Of Staff Gen. Manoj Mukund Naravane, national security Adviser Ajit Doval and Chief of defense Staff Gen. Bipin Rawat.
India Today said that according to military intelligence, Black Top and Helmet Top Hill are now within the line of actual control of the Chinese army, while the Indian army occupies the other high ground.
As winter begins to grip the border with India and the weather turns harsh, the two countries are deploying large Numbers of troops along the border, along with military weapons including anti-aircraft missiles and ground-to-ground combat measures, and building strategic corridors.
Separately, an Indian defence source said on Sunday that India and China were scheduled to hold The sixth round of Corpse-level talks on Monday in Moldo, opposite Chushur, according to The latest Hindu. A joint secretary-level official from the Ministry of External Affairs will be part of the delegation for the first time, the source said.
India and China will hold military-level talks in the next two to three days as the border standoff remains unresolved, Indian media reported on Friday. The agenda and issues raised by the Indian side were discussed and finalized at a high-level meeting attended by National Security Adviser Ajit Doval and Chief of Defence Staff General Bipin Ravat, according to a senior government source quoted by mainstream Media Asia News Agency (ANI).
New Delhi: India may urge China to disengage and de-escalate tensions simultaneously in the eastern Ladakh region during a meeting between the two Chinese and Indian military commanders, according to Indian media.
Since there has been no breakthrough in the talks between Chinese and Indian brigade-level commanders, the parties had agreed to hold a meeting of their commanders for future dialogue. So far, China and India have held five military-level meetings. Lieutenant General Harinder Singh, commander of India’s 14th Army, and Major-General Liu Lin, commander of the Southern Xinjiang Military Region, have not met since August 2.
The two sides have been locked in a bitter border dispute near the Line of Actual Control in eastern Ladakh since early May. In June, 20 Indian soldiers were killed in violent clashes between India and the People’s Liberation Army.
Since then, New Delhi and Beijing have engaged in a number of diplomatic and military exchanges. However, these meetings have yet to produce substantive results. The stand-off between the Chinese and Indian militaries on the border has escalated since warning shots were fired in early September.
Rajnath Singh, India’s defence minister, said on Thursday that the confrontation with China’s People’s Liberation Army had been caused by “interruptions in patrols”. Mr. Singh promised parliament that Indian troops would not retreat, and Indian border troops are now ready for long-term deployment in the border areas.
“There is no force on earth that can stop Indian troops from patrolling the border areas,” Singh said, revealing that the army was seeking to resume all previous patrol points and return the LINE of Actual Control (LAC) to its April status.
In the United States, there have been more than 7 million confirmed coVID-19 cases and more than 204, 000 deaths
According to the latest statistics, the cumulative number of confirmed cases of COVID-19 globally has exceeded 31.22 million. The accumulative total of more than 200000 confirmed in 23 countries around the world, in addition to the United States, India, Brazil, Russia, Colombia, Peru, Mexico, South Africa, Spain, Argentina, Chile, France, Iran, the United Kingdom, Bangladesh, Saudi Arabia, Iraq, Pakistan, Turkey, Italy and Indonesia, the Philippines, Germany. In the United States, there have been more than seven million confirmed cases and more than 204,000 deaths.
The global coVID-19 continues to grow. India recorded another 90,000 new cases in a single day, Britain a four-month high, and France a new record of more than 13,000.
According to world real-time statistics, as of 10:29 Beijing time on September 21, the total number of confirmed cases of COVID-19 worldwide has exceeded 31.22 million, reaching 31,228,556. The cumulative number of deaths has exceeded 965,000, reaching 965,037. The United States has the highest cumulative number of confirmed COVID-19 cases in the world, with 7 million cases reaching 7,004,768. The cumulative number of deaths has exceeded 204,000, reaching 204,118.
The U.S. Centers for Disease Control and Prevention (CDC) released a forecast on September 17 that the number of coVID-19 deaths in the United States could total 218,000 by October 10.
Bob, the ASSISTANT secretary for preparedness and response at the DEPARTMENT of Health and Human Services, warned recently that US public health agencies still do not have enough money to meet their goal of providing vaccines to all Americans, and that $20 billion is needed to produce 300 million doses of vaccine, ABC reported. CDC Director Daniel Redfield also said the agency needs another $5.5 billion to $6 billion to distribute the vaccine nationwide and does not have enough money and resources, including the infrastructure to transport and store the vaccine.
US President Donald Trump said on September 18 that he expects to produce enough coVID-19 vaccines for “every American” by April, with the first batch to be distributed as soon as they are approved later this year.
With national attention focused on the U.S. vaccine, Fauci, director of the National Institute of Allergy and Infectious Diseases, promised in an interview On September 17 that he would take responsibility for any potential problems with the COVID-19 vaccine in the U.S. Fauci had earlier said he believed a “safe and effective vaccine” would not be available until the end of 2020.
Epidemic in other major overseas COVID – 19, Worldometers world real-time statistics, as of Beijing time on September 21, at 29 points, 10 India confirmed 5485612 cases over the Brazilian COVID – 19 confirmed 4544629 cases, Russia has confirmed 1103399 cases, Colombia has confirmed 765076 cases, confirmed 762865 cases of Peru, Mexico has confirmed 697663 cases, diagnosis of 661211 cases in South Africa, Spain has confirmed 659334 cases, Argentina has confirmed 631365 cases, confirmed 452763 cases of France, and Chile has confirmed 446274 cases, Iran has confirmed 422140 cases, the diagnosis of 394257 cases, Bangladesh has confirmed 348918 cases of Saudi Arabia has confirmed 329754 cases, Iraq has confirmed 319035 cases, Pakistan has confirmed 305671 cases, Turkey has confirmed 302867 cases, Italy has confirmed 298156 cases, the diagnosis of 286743 cases in the Philippines, Germany has confirmed 273,477 cases and Indonesia 244,676.
Epidemic in China, according to China’s national WeiJianWei reported on Monday, September 20 0-24, 31 provinces (autonomous regions and municipalities directly under the central government) and the xinjiang production and construction corps report 12 cases of the new cases, are outside the input cases (guangdong 3 cases, 2 cases of Inner Mongolia, Shanghai in 2 cases, 2 cases of yunnan, shaanxi in 2 cases, 1 case of fujian); No new deaths; There were no new suspected cases.
31 provinces (autonomous regions and municipalities directly under the Central Government) and the Xinjiang Production and Construction Corps reported 25 new cases of asymptomatic infected persons (all imported from overseas). No confirmed cases were confirmed on that day; 10 cases were discharged from medical observation on the same day (all imported from abroad); 397 asymptomatic infected persons (396 imported from abroad) have been observed.
On September 18, local time, the World Health Organization (WHO) held a regular press conference on COVID-19. Michael Ryan, who’s head of health emergencies, said at the briefing that the world is now averaging 1.8 to 2 million new confirmed cases of COVID-19 and 40,000 to 50,000 new deaths a week. Ryan said the coVID-19 mortality rate is down because treatment is improving, patients are being treated earlier, and extensive testing is picking up more cases of mild symptoms, but 50,000 new deaths a week are still unacceptable and the coVID-19 pandemic has a long way to go.