Similar to gold, spot silver also remained in a tight trading range on Tuesday, trading around the $14 level as concerns linger over whether it can hold up.
Silver fell as much as 4 percent to $13.75 before recovering slightly to close just above the $14 mark, still down more than 2.5 percent on the day.
In terms of the outbreak, more than 780,000 people have been diagnosed globally, with the United States leading the way with 160,000 confirmed cases and more than 3,000 deaths, according to Johns Hopkins university. More than 20,000 new cases have been confirmed in the United States in the past day.
New York governor Andrew Cuomo called on U.S. health care workers to come to the state’s aid at a news conference Wednesday, warning of a possible future outbreak across the United States.
Cuomo said the state had 66,497 confirmed covid-19 cases and 1,218 deaths, with more than 9,500 confirmed cases hospitalized, including 2,352 in intensive care.
Despite more than 60,000 COVID 19 cases and more than 1,000 deaths in New York state, polls show governor Andrew Cuomo’s surge in the polls underscores the public’s approval of his leadership in fighting the epidemic.
A Siena College poll released Monday found that 87 percent of eligible voters thought cuomo was doing a good job fighting the epidemic, while only 11 percent thought he was doing a poor job. Among them, 82% of New York City voters approved of cuomo’s anti-epidemic work, while another 11% disapproved. Meanwhile, voters’ approval of Mr Cuomo surged to 71% from 44% in February, the highest level since January 2013.
In the interview, trump criticized his democratic rival Joe biden, saying “cuomo would be better,” according to the hill. Mr Trump also “tried to take credit” for Mr Cuomo’s high approval ratings for fighting the disease: “one of the reasons he [Mr Cuomo] is so successful is that we helped him.”
Mr Cuomo then responded to Mr Trump’s comments: “the President talked about running a political contest with me, but I’m not going to argue with him about politics. My only goal is to work with the President. I don’t have time for politics.”
On the daily chart, the dollar index.dxy broke out of last week’s slide and returned to the 99 level on Monday, climbing further to near 99.60 for the day, above its main moving average. On the technical side, the MACD green kinetic energy column expanded slightly, the RSI index held steady around 50, the KDJ random index fell below 50, there is still room for further decline.
On the 4-hour chart, the dollar index after hitting a low of 98.25 began a volatile rebound, has now moved to the 100 moving average 99.13 above, focus on whether to close above this moving average. In technical terms, the MACD red kinetic energy column slightly expanded, RSI index hovering around 50, KDJ random index bounced through the 50 level, there is still room for further short-term rebound.
The daily chart shows silver trading in a tight range after last day’s heavy losses, with prices hovering around $14, still below the main moving average. From the technical perspective, the MACD red kinetic energy column expanded slightly, the RSI index held steady near the 50 level, and the KDJ random index approached the overbought level upward, with still upside space.
As can be seen from the 4-hour chart, the trading range of silver has narrowed significantly recently, and it is in the trend of oscillating downward. At present, it is trading between the 100-term average of 14.40 and the 50-term average of 13.57. In technical terms, MACD green kinetic energy column slightly weakened, KDJ random index hovering above the oversold level, short – term is expected to rebound.
fundamentals Positive factors:
- According to media reports and statistics, the global total number of confirmed COVID 19 cases has exceeded 780,000, with a total of 785,712 confirmed cases and 37,814 lightning strike deaths. The us has more than 160,000 confirmed COVID 19 cases, making it the country with the most confirmed cases in the world.
- U.S. President Donald trump says models of the outbreak show that the peak of the epidemic is not yet in the next two weeks. The next 30 days are challenging times. Mr. Trump noted that one million americans have been tested for the virus. In addition, Mr. Trump said he would send $100 million worth of goods to Italy.
- Italy is currently the country with the highest number of deaths. Italy added 4,050 covid-19 cases on Monday, the slowest growth rate in two weeks, to 101,739, with 812 more deaths, bringing the total to 11,591.
- US President Donald trump extended a 15-day “social distanceadvice” issued two weeks ago to April 30, saying the death toll could peak within two weeks.
Fundamental negative factors:
- Russia’s central bank announced on Monday that it would stop buying gold from April 1, without explaining why.
- All three major U.S. indexes rose in a volatile session on March 30, with the dow up nearly 700 points as large-cap tech and health-care stocks rallied.
- The U.S. house of representatives on Friday approved the largest aid package in U.S. history, a $2.2 trillion plan to help individuals and businesses deal with the economic downturn caused by avirus outbreak called novel coronavirus and provide much-needed medical supplies to hospitals.
- The dow closed up 1,351.62 points, or 6.4%, at 22,552.17, ending its biggest three-day rally since 1931. Over the past three days, the dow has risen more than 21.3%, its best three-day winning streak since October 1931, as a $2 trillion bailout helped pull it out of a technical bear market.