The U.S. dollar index.DXY was down slightly in intraday trading on Thursday, trading near 93.60. Spot gold was also under mild pressure, with prices currently trading near $1,885 an ounce. Analysts said gold prices could face further downside risks if the stimulus package is delayed as investors focus on progress in U.S. economic stimulus talks. The coVID-19 debate was the focus of a recent debate between VICE President Mike Pence and Democratic Vice presidential candidate RON Harris on covid-19, health care, the economy, climate change and foreign policy.
Gold rose on Wednesday as fears abated that the United States would introduce further stimulus measures to support the virus-hit economy. Mr Trump renewed his call for billions of dollars in federal support for jobs in the airline industry after he suspended talks with Democrats on a national economic stimulus plan until after the election.
“The House and Senate should immediately approve $25 billion in airline wage subsidies,” Mr Trump said on Twitter. Mr Trump also used Twitter to urge Congress to approve a $1,200 economic stimulus check for Americans. It was unclear whether that meant Trump would withdraw his decision to stop negotiating with Democrats on economic stimulus.
Jeff Klearman, portfolio manager at GraniteShares, said: “President Trump’s withdrawal from ‘no stimulus talks’ to’ unilateral relief ‘has helped support gold prices.”
Gold prices fell nearly 2 percent on Tuesday after U.S. President Donald Trump suspended talks on additional economic stimulus until after the November 3 presidential election. However, he later proposed new wage assistance for U.S. passenger airlines.
“Concerns about demand sabotage related to a novel Coronavirus remain, which means that sooner or later a fiscal stimulus package will be passed and the Fed will continue its unprecedented easing of monetary policy,” Klearman said.
According to an article on The popular financial website Economies.com, gold’s rally on Wednesday stopped at the EMA 50 in the 4-hour chart, creating negative pressure that supports the bearish trend scenario for the price for some time to come. With the outlook for gold continuing to be bearish, the next major target for bullion is still $1,860.80 an ounce.
According to Economies.com, gold’s bearish target will be achieved only if it stays below $1,901.80 an ounce and, most importantly, below $1,915.00 an ounce. If gold prices break through these levels, that would halt the expected decline and push prices back up.
Economies.com expects short-term support and resistance to gold at $1,860 and $1,900.00 an ounce, respectively.
The FX168 weekly financial Market survey, released last week, showed analysts and traders were mostly bearish on gold this week. Among traders and analysts surveyed weekly in the financial markets, 66.7 per cent were bearish on gold, 16.7 per cent were bearish and 16.7 per cent were bearish.
Ole Hansen, head of commodity strategy at Saxo Bank, said gold would need a new driver, such as new U.S. government stimulus measures, if it were to move higher.
In addition to stimulus measures, investors are watching the dollar; Gold could also take a hit if the dollar continues to strengthen.
Colin Cieszynski, chief market strategist at SIA Wealth Management, said the safe-haven dollar rally could restrain gold prices.
Novel Coronavirus is in the spotlight Harris claims the Trump administration is covering up the truth
The vice presidential debate was held in Salt Lake City, Utah, on Wednesday night. Novel Coronavirus is the focal point in this debate. Republican vice presidential candidate Mike Pence and Democratic vice presidential candidate Kamala Harris are debating the candidates for President and their policies.
Vice President Mike Pence joined Democrat Mike Harris from both ends of the debate stage to wave to the audience. The two were not wearing masks, but argued with two perspex panels at a distance of 3.6 metres. The vice presidential debate was moderated by Susan Page, Washington bureau chief for USA Today.
The debate began by focusing on the COVID-19 pandemic, but quickly expanded to a range of policy issues, including climate change, trade, jobs and the US stance against China.
On the first question from the moderator, Harris, the Democratic vice presidential candidate, lashed out at the Trump administration’s handling of the epidemic. Asked what Biden’s administration would do to combat the spread of the virus, Harris lashed out at the Trump administration, saying it was responsible for the disaster that claimed 210,000 lives in the United States.
Harris slammed the US response to coVID-19 as the “biggest failure” in the history of the US presidency. “The American people have witnessed the greatest failure of any presidential administration in the history of our country,” Harris told host Susan Page.
Harris looked directly into the camera and said, “The thing is, on January 28, the vice President and the President were informed of the nature of the epidemic, and they knew what was going on, but they didn’t tell you. Can you imagine what you might have done if you had known what they knew on January 28 instead of March 13? They know the truth, but they hide it.” “They’ve narrowed it down,” Harris said.
Harris added: “They still don’t have a plan, and Joe Biden does.” The program focuses on tracking contacts and vaccine development. The Trump administration “lost” the right to a second term because of its mishandled response to the pneumonia outbreak. Pence defended the Trump administration, saying that without the President’s action, millions of lives would have been lost.
Pence said Trump had saved tens of thousands of lives early on by prioritizing the health of Americans and doing what no other President has done, suspending tourists from China, the world’s second-largest economy.
Pence stressed that tens of millions of doses of vaccine will soon be available, and he accused Biden of “copying” the coVID-19 response.
“The fact is, when you look at Joe Biden’s plan, it reads very much like every step that President Trump and I and our working group have taken,” pence said. It looks a bit like plagiarism, and Joe Knows a thing or two about it.”
As the debate shifted to the economy, Pence delivered some of the sharpest criticisms of Biden’s record. When Harris attacked the Trump administration for waging a trade war with China, the vice President retorted, “Biden has never wanted to stand up to China.”
While the Debate between Pence and Harris was still going on, President Trump tweeted, “Well done Mike Pence! She’s a gaffe machine.”
And shortly after the Debate between Pence and Harris, US President Trump tweeted, “Great win for Mike Pence!”
The US media described it as the most important vice-presidential debate in decades. On the one hand, The novel Coronavirus that President Trump diagnosed with is now spreading rapidly through the White House. On the other hand, it happened at a chaotic moment.
John Snow, director of the University of Washington’s School of Media and Public Affairs, said the vice presidential debate is also important because the first presidential debate, on Sept. 29, was a mess and lacked clear information.
The BBC notes that concerns about the health of The novel Coronavirus patient, who was hospitalized for several days on Friday, led to an unprecedented focus on the “number two” Pence. The 25th Amendment allows for the transfer of power to the vice President if the President is unable to perform his duties. On the other hand, The Democratic Party has named Harris as its vice presidential nominee. If Biden wins the presidency, Harris will become the first minority woman to hold the White House.
Trump vows to make China “pay a huge price” for novel Coronavirus pandemic
U.S. President Donald Trump made his first appearance at the White House on Monday night after returning from the hospital and vowed to ‘make China pay’ for the novel Coronavirus pandemic.
Mr Trump added: “I felt perfect, so I think it was a gift from God that I was infected. It’s a blessing in disguise.”
It was Trump’s first appearance since he was discharged from Walter Reed National Military Medical Center, and White House staff recorded the video in the Rose Garden on Wednesday afternoon.
World real-time statistics show that the cumulative number of confirmed COVID-19 cases in the United States has exceeded 7.77 million and the cumulative number of deaths has exceeded 216,000.
US President Donald Trump has been “symptom-free for 24 hours”, White House doctor Sean Conley said in an update on the President’s health on Oct 7.
“Since his discharge from the hospital, he has not required or inhaled oxygen” and “has not had fever for more than four days,” Conley wrote in the briefing. Trump’s sampling on Monday showed “detectable levels of SARS-COV-2 IgG antibodies.” The briefing also noted that Trump told Conley he was “feeling great!”
Barring any uncertainty, the President will travel to Miami and attend the October 15 debate, Trump campaign communications director Tim Mott said in a statement On Oct 6. Mr Trump said earlier in the day that he would take part in the debate. But it was unclear whether Mr. Trump would be healthy enough to take part in the debate, or whether the risk of exposing the rest of the attendees to the virus was certain.
New York (Reuters) – If Novel Coronavirus is still in Donald Trump’s harness, then he should not participate in the second presidential debate, Democratic presidential candidate Joe Biden said on Monday. The second and third debates were scheduled for October 15 and 22 in Miami, Florida, and Nashville, Tennessee.