Spot silver was at $15.184 an ounce in Asian trading on Wednesday. Silver continued to move higher on the day, hitting an intraday high of $15.212 an ounce.
In terms of the epidemic situation, Worldometers world real-time statistics show that as of 10:59 Beijing time on April 29, global COVID 19 cumulative confirmed cases of 3,138,369 cases, cumulative deaths of 217,983 cases, cumulative cured 955,811 cases. The United States had the highest number of confirmed COVID 19 cases in the world, with 1,035,765 cases, 59,266 deaths, and 142,238 cures.
As the global epidemic began to ease and economies in Europe and the United States began to reopen, market sentiment seemed to ease from a gloomy environment, with the exception of the dollar, the financial market’s main assets staged a broad rally. Meanwhile, precious metals also received a boost after news of a sudden explosion in an oil tank in the Middle East boosted buying of crude oil.
A car bomb exploded in the turkish-controlled Afrin region of northern Syria on Monday afternoon, killing and wounding dozens of people, local media reported. The Syrian state news agency said the attack took place in a market in the city of Afrin when an explosive device was placed in an oil tanker truck and detonated, killing and wounding many people. Oil prices rose after Afrin reported a “tank” explosion.
On the daily chart, the dollar index continued to fall under pressure, MACD green momentum column unchanged, the KDJ random index further significantly lower, indicating the dollar to strengthen downward momentum, followed by further retracement.
On the 4-hour chart, the dollar index maintained a volatile decline, MACD green momentum column held steady, KDJ random index turned lower, indicating the dollar short term downward momentum also held steady, the next expected to continue to extend the decline.
On the daily chart, silver price maintained tight pressure trading, MACD red kinetic energy column unchanged, KDJ random index slightly higher, indicating silver short term kinetic energy is slightly insufficient, or continue to show narrow pressure trading.
On the 4 hour chart, silver prices began a small rebound, MACD green kinetic energy column unchanged, KDJ random index turned significantly higher, indicating silver short-term rebound kinetic energy to strengthen, continue to go up.
fundamentals Positive factors:
- Worldometers world real-time statistics show that as of 10:59 Beijing time on April 29, the global covid-19 cumulative confirmed cases reached 3,138,369, the total number of deaths reached 217,983, and the total number of cured cases reached 955,811. The United States had the highest number of confirmed COVID 19 cases in the world, with 1,035,765 cases, 59,266 deaths and 142,238 cures.
- A car bomb exploded in the turkish-controlled Afrin region of northern Syria on Tuesday afternoon, killing and wounding dozens of people. The Syrian state news agency said the attack took place in a market in the city of Afrin when an explosive device was placed in an oil tanker truck and detonated, killing and wounding many people.
- Dr. Anthony Fauci, director of the national institute of allergy and infectious diseases, said the United States could have a “bad fall” if no effective treatment for the coronavirus is found by then.
- The international rescue committee (IRC) estimates that unless rapid action is taken to contain the spread of a novel coronavirus, there could be as many as 1 billion infections in crisis-affected countries. At worst, this could lead to as many as 3.2 million deaths.
- The conference board said on Tuesday that its consumer confidence index fell sharply to 86.9, the lowest level since 2014, from 120 in March. The data was weaker than expected because economists had widely expected the index to be around 88. U.S. consumer confidence has fallen sharply since mid-march as the country has imposed a blockade to try to stop the spread of a novel coronavirus.
Fundamental negative factors:
- As the global epidemic eases and governments from Italy to New Zealand announce they are easing restrictions, businesses in more parts of the United States will reopen.
2, 19 outbreak in 27 COVID – press conference, New York state governor cuomo said that at present the state COVID – 19 hospitalized patients maintain a number of stable level, but haven’t reached the ideal level of the began to decline, and on the death toll, last weekend two days, the state of New York COVID – 19 one-day new death cases of 367 cases and 337 cases respectively, the decline in Numbers, but still huge total. Cuomo said Sunday that the state plans to reopen the economy in stages.
- News of the health abnormality of the supreme leader of the DPRK, Kim jong-un, has been closely watched by the outside world. South Korean President moon jung-joon responded on April 26 that Kim jong UN is alive and well. He said Mr. Kim had been in wonsan in gangwon province since April 13 and that no suspicious movements had been detected.