On Friday (May 15) Asian session, spot gold continued to pull up, spot silver also followed the gold price rise, silver long burst, rose above the key $16 level, the market focus on the “terror data” – us retail sales data.
Silver followed gold’s gains above a key $15.60, up more than 2 percent on the day, as disappointing jobs data and central bank signals that further government stimulus may be needed added to investor concerns about a global economic recovery.
Statistics from real-time data update website worldometers show that as of 11:43 PM Beijing time on May 15, there were more than 4.52 million confirmed cases of covid-19 worldwide, with a total of 4,526,850 confirmed cases and 303,405 deaths of more than 300,000.
Among them, the total number of confirmed covid-19 cases in the United States exceeded 1.45 million, or 1,457,593, and the total number of deaths exceeded 86,000, or 86,912.
A recently dismissed public health official has warned the us congress that americans should prepare for “the darkest winter in modern history” if they do not improve their response to the coronavirus pandemic because of the federal government’s continuing failure to respond.
Whistleblower Rick Bright, testifying before a house of representatives committee on pandemic preparedness on Thursday, warned that “the window of opportunity to address this epidemic is closing” as the virus continues to circulate in the United States, because the trump administration still lacks a comprehensive plan for dealing with novel coronavirus.
“Time is running out because people are getting more and more agitated as the virus continues to spread,” Bright told lawmakers. Without a proper response, he added, “I fear the outbreak will get worse and last longer, resulting in an unprecedented number of new cases and deaths.”
At a hearing of the house health committee on the same day, bright reiterated that after the world health organization (who) issued its covid-19 alert in January, he repeatedly told health officials that the virus would spread in the United States and called for early preparedness, but it was not taken seriously by authorities.
Last month, Bright was removed from his post as director of the biomedical advanced research and development authority (BARDA). The agency is part of the U.S. department of health and human services (HHS), which develops drugs to fight the coronavirus.
Ahead of the hearing on Thursday morning, Mr Trump, who has been pushing for a rapid economic reboot, dismissed Mr Bright on twitter as a “disgruntled employee”.
Later Thursday, trump told reporters at the White House that he watched Bright’s hearing for a while. “To me, he was just a very dissatisfied, unhappy person,” Mr. Trump said, adding that he did not know Mr. Bright.
On the daily chart, the dollar index is trying to build on its gains of the previous two days and is now trading around 100.35, above its main moving average. On the technical side, the MACD red kinetic energy column expands slightly, the RSI index hovered above 50, and the KDJ random index approached the overbought level upward, paying attention to the possibility of further rise.
On the 4-hour chart, the usd index appears to be forming upward highs and lows, with the recent high of 100.40 having been broken, which seems to confirm the upward trend. MACD red kinetic energy column slightly contracted, KDJ random indicators from the overbought level down, short – term alert to the possibility of a correction.
On the daily chart, silver continued to climb after a 2-day winning streak, breaking through the key $16 barrier and peaking at the 16.12 level, moving closer to the key 100-day moving average. MACD red kinetic energy column gradually expanded, KDJ random index hit the overbought level, focus on whether to hold the $16 mark.
On the four-hour chart, silver has risen sharply, continuing to pull from its low around $15.30 to break through the $16 mark and above all averages. MACD red kinetic energy column greatly expanded, KDJ random index hit the overbought level, alert to a short – term correction.
Fundamental positive factors:
- According to statistics from real-time information data update website worldometers, as of 11:43 on May 15, Beijing time, the global total number of confirmed covid-19 cases exceeded 4.52 million, with a total of 4,526,850 confirmed cases and a total of 303,405 deaths exceeding 300,000.
- New claims for state unemployment benefits hit 2.981 million last week, labor department data showed on Thursday, bringing the total number of new claims since the coronavirus crisis to nearly 36.5 million, the largest job loss in U.S. history.
- U.S. President Donald trump said Thursday he was “very disappointed” that China had failed to contain novel coronavirus.
- Federal reserve chairman colin Powell said on Wednesday policymakers may have to use more weapons to pull the United States out of the economic mire, but flatly rejected negative interest rates, saying the fed was not considering such a move.
Fundamental negative factors:
- Trump predicts that there will be more than 100,000 COVID-19 deaths in the United States. Mr. Trump also took a sudden stance in favor of the dollar, saying it was a good time for it to strengthen and it was a great thing to have a strong dollar.
- US President Donald Trump said on Wednesday he still strongly believes the federal reserve should implement negative interest rates, but gave a nod to fed chairman Colin Powell.
- Atlanta federal reserve bank President Raphael Bostic said recently that negative interest rates are not a good option in a time of crisis.
- James Bullard, President of the st Louis federal reserve bank, reiterated his skepticism about negative interest rates, noting that the strategy had a history of mixed results and was “not a very good solution for the United States”. Dallas federal reserve bank President Robert Kaplan recently told CNN he opposes negative interest rates.