Silver was at $17.875 an ounce in Asian trading on Wednesday. Silver fell under pressure from the start of the day, extending losses to a low of $17.822 an ounce, now down 0.97 percent, with short-term bears still dominating the session.
Protests continue over the death of An African-American man, George Floyd, by police brutality. US President Donald Trump on June 1 threatened to send thousands of heavily armed troops to quell protests in several states.
On June 1, CNN released a recording of a telephone conference call between Donald Trump and the US governor. At the meeting, Mr Trump lashed out at the governors, saying they were initially reluctant to call in the National Guard and that “the whole world is laughing at us”.
Jonathan Rath Hoffman, a defense Department spokesman, said in a statement that the Pentagon is moving several active-duty Army units to the U.S. Capital Region (NCR) as part of a prudent planning effort to respond to existing support for civil administration operations. Over the past 24 hours, aircraft have been mobilized from active duty units to the National Capital Region, with a total of approximately 1,600 active duty personnel recently mobilized from Fort Bragg and Fort Drum.
According to the real-time epidemic surveillance system of Johns Hopkins University, as of 5:33 PM EDT on June 2, there had been 1,828,736 novel Coronavirus infections in the United States, including 106,046 deaths. There were 24,530 new infections and 1,247 new deaths in the United States.
New York state, the worst-hit state, has reported 373,040 cases, including 29,968 deaths. More than 100,000 cases have been reported in New Jersey, Illinois, California and Massachusetts.
Novel Coronavirus is expected to usher in a new wave of viral protests following the death of George Freud across the United States, said Jerome Adams, SECRETARY of the U.S. Department of Public Health. “Given the way the disease is spreading, there is every reason to expect that we will see new clusters and potentially new outbreaks,” he said.
Next, we need to continue to pay attention to the latest developments of the global epidemic, especially in the United States. If the gathering caused by the protests causes the second wave of infection to intensify, the combination of multiple crisis factors may trigger a new round of panic, and then the market sentiment may change dramatically.
On the daily chart, the DOLLAR index extended its recent decline, MACD green momentum column expanded, and KDJ random index continued to come under pressure, indicating the dollar’s downward momentum to strengthen, the next to continue to expand the decline.
In the 4-hour chart, the USD index also extended its decline, MACD green momentum column remained unchanged, KDJ random index turned lower, indicating that the USD will also further decline in the short term.
On the daily chart, silver fell after surging, the MACD red kinetic column slightly narrowed, and the KDJ random index turned lower, indicating the resumption of downward momentum for silver and further decline in the coming months.
In the 4-hour chart, silver also retreated from high volatility, MACD green momentum column expanded, KDJ random index continued to fall, indicating that gold short-term downward momentum also strengthened, will continue to maintain a volatile decline.
Fundamentals positive factors:
- According to statistics from Worldometers, as of 0920 June 3, the cumulative number of confirmed cases of COVID-19 worldwide has exceeded 6.47 million, so far 6,479,836 cases have been confirmed, and the cumulative number of deaths has exceeded 382,227.
- The OFFICE of the United States Trade Representative (USTR) announced on Tuesday (June 2) that it would open a section 301 investigation into digital taxes that some OF its trade Allies have collected or plan to collect, with retaliatory tariffs possible based on the findings. The office of the us trade representative said the us was investigating digital services taxes that Britain, Italy, Brazil and other countries have adopted or are planning to implement, a move that could lead to new punitive tariffs and raise trade tensions.
- Donald Trump took Twitter by storm again on Tuesday, firing off 16 tweets in three hours. In a tweet, Mr. Trump urged the city to call in the National Guard.
- The Force protection status (FPCON) at the Pentagon and other defense facilities in the capital region has been raised to level 2, or Charlie, for fear of disruption from the protests, DEFENSE officials said Tuesday, CNN reported.
Fundamentals negative factors:
- Wednesday (June 3) According to the official microblog of Jilin Provincial Health Commission on June 3, the risk level of Shulan city has been adjusted from high to low risk according to the national coVID-19 epidemic classification standard.
- companies still bought at least three shiries of AT least 180,000 tons of U.S. soybeans on Monday for shipment in October or November, Reuters reported. That combination boosted risk sentiment, sending money pouring out of dollar assets and into stocks.
- Britain is expected to show it is willing to compromise on fisheries and trade rules if the EU agrees to drop its “extremist” stance on requirements related to regulatory harmonization and access to fisheries, The Times reported.
- Eli Lilly & Company announces that it has begun a phase I study of novel Coronavirus potential antibody therapy for the first batch of patients. The trial began before rival Regeneron, which is also developing a potential antibody therapy. Lilly said it expects to release the results of the phase 1 study by the end of June.