Factors of profit growth:
- The United States continues to rebound as the third leading cause of death
According to the real-time statistics of Worldmeters, in the past 24 hours, the cumulative number of confirmed cases worldwide has broken 2.02 million and the cumulative number of deaths has risen to 777,751.
The number of confirmed cases in the United States rose to 5612,027, and the number of deaths rose to 173,716.
Dr. Deborah Birx, coordinator of the White House Epidemic Task Force, said she wished the United States had gone into a stricter lockdown.
“I wish we had gone into a severe lockdown in March, so that we might have had a situation similar to that in Italy,” he said. “In the Days of the Italian lockdown, people were not allowed to leave their homes without permission, and the Americans did not comply very well with those prohibitions.”
Birx quotes a strategy used in Arizona, saying people can still go to malls and restaurants if they want to control the flow of people, but that gyms and bars are closed, the state enforces a mask order and does not allow groups of more than 10 people.
She said Arizona residents are still interacting and people are not, but by taking such prudent measures, the number of cases is expected to drop significantly, probably by more than 80 percent.
However, Senior White House adviser Jared Kushner disagreed, pointing out that President Trump was thinking very forward-thinking when he released the 15-day guidance to the task force in mid-March.
“The response in the United States is to make sure that we have enough resources and facilities so that we don’t end up like In Italy, where patients die on stretchers in waiting rooms.”
Former U.S. Centers for Disease Control and Prevention President Thomas Frieden said COVID-19 was the third leading cause of death in the United States, ahead of accidents, injuries, lung disease, diabetes, Alzheimer’s disease and many other causes.
Worse still, the percentage of positive tests in more than 30 states was still above the recommended 5%, according to Johns Hopkins University.
- The geopolitics of China and the United States continue to ferment
On Monday, U.S. President Donald Trump promised a tax credit for manufacturers returning to the U.S. from offshore China.
In his speech, Trump vowed to create 10 million JOBS in the United States over 10 months and said “we will end our dependence on China.”
It is also the latest attack on China following Mr Trump’s ban on Huawei, TikTok and Wechat, according to the BBC.
At the same time, the Trump administration said it would further tighten measures against The Chinese telecommunications company Huawei and blacklist more Chinese technology companies.
As the Us election in November went into reverse, Mr Trump stepped up the stand-off with China, accusing Chinese companies of stealing US jobs and intellectual property.
“We will be producing important drugs and supplies in the United States,” Trump added.
- Change of position
The world’s largest gold ETF saw its gold holdings rise 0.33 percent to 1252.38 tonnes on Monday.
After the August 11 sell-off, gold rallied from the 1863 zone, giving up more than half of its daily losses, said AG Thorson, a commentator at FX Empire.
If prices close above 2000 this week, expect buffett’s gold news to be enough to attract more buying, pushing prices back to the all-time high and even the 2089 area, which could well break the 2100 mark.
However, if prices close below 2000 this week, the next six months could see a major decline in gold prices.
Suki Cooper, precious metals market analyst at Standard Chartered bank, said the longer-term outlook remained constructive despite last week’s steepest sell-off in gold since April 2013.
Cooper said gold looked extremely overbought until it fell more than $200, making the prospects for further gains look uncertain.
“Whether this profit-taking turns out to be a short-term strategic position settlement or leads to a strengthening of the gold ETF attacks offers a cautious warning of upside risks.” But never closing warehouse receipts and net inflows suggest investors have unwound old long positions rather than strategic ones.”
Ubs economists believe gold positions could still hit 2,300 points after being unwound at a profit in the short term.
The bank noted that recent forecasts, particularly in the context of heightened geopolitical tensions, saw gold as likely to hit as high as 2,300, while the Fed’s continued pressure on nominal interest rates and tolerance of higher inflation expectations saw gold around 2000 by year-end.