Trump just gave a tough speech to the nation! At one point, the price of gold was close to 1745. Beware of unexpected news on the china-us situation!

On June 1, local time, U.S. President Donald trump delivered a speech to the nation at the White House. However, he advocated a tough approach and asked the governor to crack down on violent demonstrators. This speech unsettled the market, and spot gold rose nearly $1,745 a day. For the session, investors also continued to focus on the u.s.-china trade situation after news that China had asked state-owned companies to halt purchases of soybeans and pork from the United States.

In a tough national speech, Donald trump cracked down on demonstrations

The death of an African-American man in Minnesota, George Floyd, who was strangled by a white police officer for several minutes and suffocated, has shocked the nation. The video of the incident sparked demonstrations across the United States.

Floyd died after his knee was pinned to his neck for more than five minutes during his arrest in Minneapolis on May 25.

Protests broke out in several cities on May 26 and entered their seventh day on Monday. Protests have broken out in at least 140 cities in the United States, some of which have turned violent, and the number of states that have activated the national guard has risen to at least 21. US President Donald trump, seeing the situation fail to calm, addressed the nation at about 6.30pm eastern time on Monday.

Several loud explosions were heard near the White House just before Mr Trump’s speech, while police fired tear gas into a crowd of demonstrators outside the building.

Mr Trump began his speech by telling Mr Freud’s family that his life would not have been lost in vain and that the legal process would continue. He also accused the demonstrations of the past few days of being manipulated by far-left groups into riots, and described the attacks on the police as “ACTS of domestic terrorism”. He also criticised democratic local officials for failing to act forcefully to prevent them.

He said the protesters’ attack on the police was an act of domestic terror and ordered the army to protect people’s lives and assets. He promised to deploy more troops across the country if states and cities do not take action to contain the violence caused by the protests.

Mr. Trump said the voice of justice by peaceful protesters could not be drowned out by a “mob,” and accused some state and local governments of failing to act to protect residents. At 7 p.m. local time in Washington, d.c., “thousands of heavily armed soldiers, military personnel and law enforcement officials” will enforce a curfew, he said.

Mr. Trump said the measures he outlined would take effect immediately, and said he strongly recommended that states deploy large Numbers of national militias to take control of the streets. He also ordered mayors and governors to deploy significant law enforcement forces until the violence subsided, and vowed to use U.S. troops in the streets if a city or state refused to take action.

In a video conference with state governors, law enforcement and national security officials, President trump demanded a tough crackdown on violent protesters, according to U.S. media reports. Mr. Trump said that if he did not take a strong stand against violent individuals who commit intentional crimes soon, it would only worsen the situation and waste valuable time.

“We have a lot of soldiers, we have everything you need, but nobody mobilizes them,” trump said. “you have to lead, and if you don’t lead, you’re wasting your time, and they’re going to run you over and make you look like a bunch of idiots.”

On the same day, local media reported that a lawyer for Floyd’s family said an independent autopsy had found that George Floyd died of “asphyxiation due to pressure on the neck and back and a lack of blood flow to the brain.”

In a press release, the family said: “the constant pressure on Mr Freud’s right cervical artery impeded blood flow to the brain and the weight on his back hampered his ability to breathe. Independent examiners found that the weight, handcuffs and position of the body impairs Mr Freud’s diaphragm.”

In addition, on June 1, local time, the medical examiner’s office in hennepin county, minn., released a report saying that George Floyd’s death was due to “cardiopulmonary arrest associated with the uniform, confinement, and neck compression of law enforcement officers.”

However, a post-mortem report released by the police said Freud died of a “heart attack and a potential poison in his body” rather than a police strangulation. The police’s control over him was only a trigger, exacerbating his seizures.

Focus on sino-us trade situation alert to unexpected news

In addition to the protests in the United States, there was a new piece of news about trade between China and the United States last day. China has asked state-owned companies to stop buying soybeans and pork from the us after US President Donald trump said he would scrap special treatment for Hong Kong in response to China’s national security law in the city, CNBC reported, citing two people familiar with the matter.

Heavy government purchases of U.S. corn and cotton have also been halted, one of the sources said. If the U.S. government takes further action, China could extend the directive to more U.S. agricultural products, people familiar with the matter said.

Another source familiar with the administration’s plans said the worst-case scenario is that if trump continues to target China, China will have to abandon the first phase of the trade deal.

Under a preliminary trade agreement signed between the two countries in January, China pledged to buy an additional $32 billion worth of U.S. agricultural products over two years, higher than the benchmark based on the 2017 figure.

China has bought soybeans, corn, wheat and soybean oil from the United States this year to meet its commitments under trade agreements. China has also ramped up its purchases of us pork after deadly African swine fever killed scores of its pigs.

The U.S. department of agriculture reported that China bought $1.028 billion worth of soybeans and $691 million worth of pork in the first quarter of 2020.

Private importers haven’t been ordered by the government to suspend purchases of U.S. agricultural products, but commercial buyers are being cautious, according to a third source from a major trading company.

Gold bottomed out on Monday, falling below $1,730 and continuing to rebound to close around $1,740, as friction between China and the U.S. intensified and racist protests took hold in the U.S. It continued to hover around that level on Tuesday.

In addition, the dollar index fell to its lowest level since mid-march, further supporting gold. An economic recovery is expected to drive an improvement in risk appetite in global markets, leading to a weaker safe-haven dollar.

“There is growing concern that the first phase of the us-china trade agreement is about to be torn up,” said Edward Moya, senior market analyst at broker OANDA. He added that street protests in many parts of the United States had raised concerns about a second wave of novel coronavirus infections.

Afshin Nabavi, vice chairman of MKS SA, said the gold price could rise as the overall gold market is boosted by geopolitical risks. “In June, July and August, risk aversion will continue and gold prices will continue to move higher, which is more important than ever.”

In addition, the dollar index fell to its lowest level since mid-march, further supporting gold. An economic recovery is expected to drive an improvement in risk appetite in global markets, leading to a weaker safe-haven dollar.

“There is growing concern that the first phase of the us-china trade agreement is about to be torn up,” said Edward Moya, senior market analyst at broker OANDA. He added that street protests in many parts of the United States had raised concerns about a second wave of novel coronavirus infections.

Afshin Nabavi, vice chairman of MKS SA, said the gold price could rise as the overall gold market is boosted by geopolitical risks. “In June, July and August, risk aversion will continue and gold prices will continue to move higher, which is more important than ever.”

BMO Capital Markets raised its forecast for gold prices this year by 5 percent to $1,732 an ounce. It also raised its forecast for gold price growth between 2021 and 2024 to 8 percent from 4 percent, and raised its long-term forecast by 17 percent to $1,400 from $1,200 an ounce.

BMO Capital Markets raised its forecast for gold prices this year by 5 percent to $1,732 an ounce. It also raised its forecast for gold price growth between 2021 and 2024 to 8 percent from 4 percent and raised its long-term forecast by 17 percent to $1,400 from $1,200 an ounce.

Leave a Reply

Your email address will not be published. Required fields are marked *