Spot silver was trading at $15.634 an ounce on Wednesday. Silver surged to a high of $15.827 an ounce in early trading, then retreated from that point and is now retracting.
The international monetary fund said on Tuesday it expects the global economy to contract by 3.0 per cent in 2020 as a coronavirus outbreak shuts down economic activity, the worst downturn since the great depression of the 1930s.
The sharp economic downturn and massive government bailout spending caused by the new outbreak will nearly quadruple the fiscal 2020 deficit to a record $3.8 trillion, or 18.7 percent of gross domestic product, the committee for a responsible federal budget said on Monday.
According to Worldometers world real-time statistics, as of 9:24 Beijing time on April 15, there were 1,998,111 confirmed covid-19 cases, 126,604 deaths and 478,659 cures worldwide. The United States had the most confirmed COVID 19 cases in the world, with 613,886 cases, 26,047 deaths and 38,820 cures.
The us state department announced Monday that an employee at its headquarters in Washington died of COVID 19, the first case of COVID 19 at its headquarters, the New York times reported. So far, COVID 19 has killed five U.S. state department employees worldwide. The employee, a civilian employee who had been off the job for more than two weeks, died over the weekend, said John walters, deputy chief medical officer of the state department’s medical services division.
US President Donald trump announced at a White House press conference on April 14 that the us would suspend funding for the world health organization. Trump accused the world health organization of failing to share information on the outbreak, provide timely policy advice on prevention, and declare a “global pandemic”.
Who spokeswoman Margaret Harris said at a briefing on Monday that the current outbreak in Europe is a mixed bag, with new cases slowly starting to decline in Italy and Spain, but they are increasing in countries such as Turkey and the UK. Margaret Harris says more than 90 percent of the new cases are now in the United States and Europe, and the current outbreak in the United States is the worst in the world for a single country. The who believes that the new outbreak has not yet peaked.
On the daily chart, the dollar index maintained the recent pullback trend, the MACD green momentum column expanded, the KDJ random index further lower, indicating the dollar to strengthen downward momentum, the next expected to continue to extend the decline.
On the 4-hour chart, the dollar index moderately under pressure, the MACD green momentum column unchanged, the KDJ random index moderately lower, indicating that the dollar short term downward momentum is still there but the strength is limited, next expected to continue to moderate decline.
On the daily chart, silver maintained its recent rally, with the MACD red kinetic energy column narrowing slightly and the KDJ random index moderately higher, indicating that silver’s upward momentum is unstable.
On the 4 hour chart, silver prices after the surge slightly pressure to fall, MACD red kinetic energy column unchanged, KDJ random index turned down, indicating that silver short term may also continue to moderate fall.
fundamentals Positive factors :
- Worldometers world real-time statistics show that as of 9:24 Beijing time on April 15, the global covid-19 cumulative confirmed cases reached 1,998,111, cumulative deaths reached 126,604, and cumulative cures reached 478,659. The United States had the most confirmed COVID 19 cases in the world, with 613,886 cases, 26,047 deaths and 38,820 cures.
- US President Donald trump announced at a White House press conference on April 14 that the us would suspend funding for the world health organization. Trump accused the world health organization of failing to share information on the outbreak, provide timely policy advice on prevention, and declare a “global pandemic”.
- Who spokeswoman Margaret Harris said at a briefing on Monday that the current outbreak in Europe is a mixed bag, with new cases slowly falling in Italy and Spain, but increasing in Turkey, Britain and other countries. More than 90 percent of the new cases are now in the us and Europe, where the current outbreak is the worst in a single country. The who believes that the new outbreak has not yet peaked.
- Us consumer prices fell 0.4 percent in March, the biggest monthly drop in five years, as Americans stopped traveling and the cost of petrol, airfares and hotel rooms fell sharply. The drop in March was the biggest since January 2015, according to the labor department. The core consumer price index, which excludes food and energy, fell 0.1% in March, the first monthly decline since January 2010.
Fundamental negative factors:
- On Tuesday (April 14), China’s exports fell by 6.6% in March from a year earlier, lower than economists’ forecasts of a 14% drop. Imports fell less than 1 per cent from a year earlier, below economists’ forecasts of a 9.5 per cent drop. Risk sentiment returned after better-than-expected economic data from China.
- The head of the centers for disease control and prevention said on Monday that the U.S. is close to the peak of the outbreak. The outbreak in the United States is stabilizing and the number of COVID 19 cases in the United States is expected to begin to decline in the coming days.
3, local time 13, the White House press conference, trump said that the recent data of new confirmed cases and new cases of hospitalization data, the spread of the epidemic in the United States began to show a flat trend. Mr Trump said it was possible to restart the economy sooner rather than later.
- New York governor Andrew cuomo said he believed “the worst is over” as hospital admissions in the worst-hit state appeared to have stabilized near high levels.