The gold price cannot help wipe up the rise! Us Dollar weakens as the UK Vaccine Suffers New breakthroughs between China and the US are attracting attention!

U.S. fiscal stimulus stagnant, new vaccine production early found that do not conform to the standard of raw materials and the United States criticized the British early approval, global short-term to keep interest rates low, still drive down further dollar weakness, pushing the dollar index hovering low to 90.50 lows, but hedge general gold prices like guided dou, weaker recovery is unable to continue climb up.

Fundamental analysis: Dollar weakness provides long momentum

With global inflation expectations maintained, gold prices are already seeing a substantial expansion in the money supply in 2020, and a low interest rate environment is likely to continue to support future gold price movements. Back in the spotlight on the COVID-19 vaccine, the latest news about a vaccine candidate being developed by Pfizer, an American drugmaker, in partnership with BioNTech, a German biotech company, is another setback. The Wall Street Journal noted that Pfizer’s vaccine supply chain faces challenges that could affect its decision on its 2020 production target. They had set a target of 100 million doses, but then said they would produce 50 million doses this year, meaning they are currently only half full.

With Pfizer’s two-dose regimen, 50 million doses would be enough to vaccinate only 25 million people. In addition to treatment impeding the spread of the vaccine, Albert Bourla, Pfizer’s chief executive, said: “Substandard ingredients were found in some of Pfizer’s early batches, resulting in delays in vaccine production.” Pfizer in November applied for emergency authorization from the US Food and Drug Administration for the COVID-19 vaccine, and US officials said they expected it to be approved as early as the end of this month. The initial distribution of the vaccine will include 6.4 million doses, with more to follow, according to preliminary government estimates. British regulators have licensed Pfizer’s vaccine for use in the country.

A spokesman for the Department of Health and Social Care said the government had accepted the recommendation of the Medicines and Medical Products Regulatory Authority to approve the use of the novel coronavirus vaccine candidate from Pfizer and BioNTech, which will be available in the UK from next week. Albert Bourla, Chairman and chief executive of Pfizer, said the mandate from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) was a “historic moment”.

Pfizer has not commented directly on the Wall Street Journal report, but the delay will disappoint vulnerable groups in the United States and The United Kingdom who will now miss out on priority vaccinations, again dealing a major blow to the pace of nationwide access to the vaccine. Add to that the prospect of further logistical problems in 2021, which will have a bigger impact on the market, and that will be bullish for gold prices.

Anthony Fauci, director of the US National Institute of Allergy and Infectious Diseases, also told Fox News that the UK had not done a “serious” review of Pfizer’s vaccine as the US health authorities had, and told CBS News that the UK was now “anxious” to approve the review. But the day after his speech, he reversed course and said: “The jury is still out on the British approach.”

June Raine, head of the UK drug regulator, responded: “The UK has not had any difficulty in reviewing Pfizer’s vaccine. The MEDICINES and Healthcare Products Regulatory Agency (MHRA) has reviewed preliminary data from vaccine trials dating back to June.” The MHRA also added: “The UK will not authorise Pfizer’s vaccine unless it meets expected standards of safety, quality and efficacy.”

Fundamental Analysis: The Case of Meng Wanzhou, a new export of China-Us relations, has raised hopes

The Justice Department is in talks with Meng Wanzhou, huawei’s chief financial officer, to reach a deal that could pave the way for the release of two Canadians detained in China if she agrees to plead guilty and show she has committed wrongdoing. In recent weeks, Ms. Meng’s lawyers have talked with the Justice Department about the possibility of a “deferred prosecution agreement.” Under an agreement prosecutors typically use with companies but rarely authorize to individuals, Ms. Meng would be required to admit some of her charges, and prosecutors would agree to delay and later drop the charges if she was willing to cooperate with them, the Journal said, citing people familiar with the matter.

The Wall Street Journal also noted that Ms. Meng has so far rejected the proposed deal, arguing that she did not do anything wrong in the alleged affair. She also declined to comment through a Huawei spokesman. A U.S. Justice Department spokesman declined to comment. Canadian officials did not immediately respond to requests for comment.

“On December 1, 2018, Meng Wanzhou was arrested at Vancouver International Airport in connection with an extradition warrant sought by the US government,” Huawei Canada said in a statement on December 1. For the past two years, Huawei has expressed confidence in Ms. Meng’s innocence and is confident that the Canadian justice system can reach that conclusion. Huawei will therefore continue to support Ms Meng in her pursuit of justice and freedom.”

“We are very concerned about your wrongful detention by the Canadian side for two years,” Cong peiwu and Meng were quoted as saying in a Dec. 1 press release from the Chinese Embassy in Canada. I would like to stress that the Chinese government is firm in its resolve to safeguard the legitimate rights and interests of Chinese citizens and enterprises. We will continue to urge the Canadian side to take China’s solemn position and concerns seriously, make the right decision to release you as soon as possible and ensure your safe return to China. Justice in the heart, justice will come! Stay healthy. We look forward to your early and safe return home.”

Going forward, U.S. jobs data in November will also be a key driver of gold prices, while the latest news on hopes for a NEW COVID-19 stimulus package and vaccine in the United States will also provide clear direction.

Technical analysis:

With gold rebounding from its high of $1,766 on May 18, and having rallied well in recent days, resistance around $1,850 will soon be tested. To consistently break the three-week downtrend, gold would need to provide a closing price above $1,850 to recall the bullish trend. Until then, the bear market will keep its eye on the may high of $1,765.

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