On Wednesday, the DOLLAR index was steady in the Asian session, now at around 93.85. Spot gold rallied near $10 and broke through the $1,880 / oz barrier. U.S. President Donald Trump’s latest tweet, calling on Congress to approve $25 billion in aviation aid and $135 billion for the Pay Protection Program (PPP), sent gold prices higher in the short term. Gold plunged more than $30 on Tuesday after Mr. Trump abruptly called off stimulus talks. In addition to the economic stimulus package, the outbreak there was also concern right now, the United States COVID – 19 confirmed cases have been breakthroughs in 7.72 million cases, accumulative total deaths of more than 215000, the White House, the doctor said Tuesday that President trump first night did not appear after discharge will be coronavirus symptoms, but the White House epidemic is still spreading, the latest news, according to senior adviser miller infection will trump coronavirus.
U.S. President Donald Trump tweeted Monday that the House and Senate should immediately approve a $25 billion wage support plan for airlines and a $135 billion wage protection plan for small businesses. Both fees would be paid in full from funds not used under the previous protection act.
Hours after negotiations to halt the fiscal stimulus bill ended, Mr Trump tweeted to House Speaker Nancy Pelosi that he would sign a stimulus bill if it gave out only checks ($1,200 per person).
Gold tends to benefit from broad stimulus measures by central Banks because it is widely seen as a hedge against inflation and currency depreciation.
In fact, gold plunged on Tuesday, also due to Trump’s tweets. The DOLLAR rose Tuesday after Trump said he canceled talks with Democrats ona new Novel Coronavirus rescue, raising questions about the economic recovery and prompting investors to turn to safe-haven assets such as the U.S. dollar. The dollar index.DXY closed 0.43 percent higher at 93.84.
“We offered a very generous $1.6 trillion offer, and she, as always, has no intention of negotiating in good faith,” Trump tweeted on Tuesday. He was referring to House Speaker Nancy Pelosi.
“I have instructed my representatives to stop negotiating until after the election, and immediately after I am elected, we will pass a major economic stimulus bill focused on hardworking Americans and small businesses,” Mr Trump added on Twitter.
Earlier Tuesday, Ms. Pelosi issued a statement about the need for further fiscal stimulus. “Strong and immediate action is needed to avert an economic catastrophe caused by the coronavirus pandemic,” she said.
“It’s very unfortunate,” said Steve Lamar, President of the American Apparel & Footwear Association, referring to Mr Trump’s decision to halt stimulus talks. The economy is not something you can put aside and pick up at a convenient time. The people are suffering now.”
‘Stimulus needs to come as quickly as possible,’ said Matthew Shay, President and CEO of the National Retail Federation. “The pandemic is not over, nor is the economic crisis it created. Many families are still struggling to make ends meet, and businesses face barriers in rehiring.”
Hopes that the U.S. Congress would agree on a new stimulus bill were temporarily dashed and the dollar strengthened, sending gold sharply lower on Tuesday. Spot gold closed at $1,877.76 an ounce, down $34.48, or 1.80 percent.
“We’ve seen the dollar go up a lot, and that’s been a big pressure on gold,” Bart Melek, head of global strategy at TD Securities, told Kitco News on Tuesday.
Federal Reserve Chairman Colin Powell on Tuesday renewed his call for additional financial assistance, saying it is necessary for the recovery to continue. Powell warns that the U.S. economic recovery is still far from complete and that the economy could still slip into a downward spiral if the novel Coronavirus is not effectively controlled and the economy continues to grow.
“Gold weakened as the dollar benefited from Fed Chairman Colin Powell’s comments that fiscal support was too weak for a weak recovery,” said Suki Cooper, an economist at Standard Chartered bank in New York.
The FX168 weekly financial Market survey, released on Saturday, showed analysts and traders were mostly bearish on gold this week. Among traders and analysts surveyed weekly in the financial markets, 66.7 per cent were bearish on gold, 16.7 per cent were bearish and 16.7 per cent were bearish.
Ole Hansen, head of commodity strategy at Saxo Bank, said gold would need a new driver, such as new U.S. government stimulus measures, if it were to move higher.
Colin Cieszynski, chief market strategist at SIA Wealth Management, says he is looking at the dollar, even though gold has room to rise. Cieszynski said the safe-haven dollar rally could curb gold prices.
Another Senior White House official is under quarantine after contracting a coronavirus
The global coVID-19 epidemic continues to grow. Real-time world statistics show that the cumulative number of confirmed coVID-19 cases worldwide has exceeded 36.03 million. The United States has the world’s largest number of confirmed cases of COVID-19, with 7.72 million cases and more than 215,000 deaths.
Stephen Miller, a senior adviser to U.S. President Trump, tested positive for irus, according to a new CNN report.
“For the past five days, I have been working remotely and isolating myself,” Miller said in a statement released On October 6. “Until yesterday, my tests were negative every day. Today, I tested positive.” Miller is the latest White House official to be infected with a Novel Coronavirus, and at least 10 people have tested positive so far.
Novel Coronavirus test results are pending after a senior Coast Guard official diagnosed COVID-19 with the army’s top general, Gen. Mark Milly, and several senior Pentagon officials were in isolation and awaiting results from a novel Coronavirus test, defense Department officials said Oct. 6.
New York Governor Andrew Cuomo announced Friday that schools in the city’s 9 zip codes, all in Brooklyn and Queens, will be closed Monday, the New York Times reported, citing a rebound after schools reopened in the city.
New confirmed cases have risen in 33 states and Puerto Rico in the past two weeks, according to NBC News. The seven-day average of new cases in the United States is now the highest since August 22.
Novel Coronavirus symptoms did not appear on President Trump’s first night out of the hospital, a White House physician said Tuesday. “He spent a quiet first night at home, and today he reported no symptoms,” Dr. Sean Conley wrote in a brief but not specific memo. Mr Trump’s vital signs and medical examination remain stable. Overall, he is still doing very well.”
The upbeat news from White House doctors comes less than a day after the 74-year-old trump was released from Walter Reed National Military Medical Center. After Mr. Trump began experiencing coronavirus symptoms, he flew to the center as a precaution. Trump was hospitalized Friday night, the same day he announced on Twitter that he and first lady Melania Trump had tested positive for the virus.
Barring any uncertainty, the President will travel to Miami and attend the October 15 debate, Trump campaign communications director Tim Mott said in a statement On Oct 6. Mr Trump said earlier in the day that he would take part in the debate.
But it was unclear whether Mr. Trump would be healthy enough to take part in the debate, or whether the risk of exposing the rest of the attendees to the virus was certain.
New York (Reuters) – If Novel Coronavirus is still in Donald Trump’s harness, then he should not participate in the second presidential debate, Democratic presidential candidate Joe Biden said on Monday.