What’s going on? In a single day, the number of new confirmed cases in Hubei surged by 14,840 and 242 new cases died. Gold price short – term surge through 1570!

On the morning of Thursday (February 13), the latest outbreak data of new coronary pneumonia in hubei province showed that there were 14,840 new cases (including 13,332 clinically diagnosed cases) of new coronary pneumonia and 242 new deaths in the province. After the data was released, the market became somewhat more risk-averse, with spot gold surging in the short term and clearing the $1,570 / oz barrier, while the safe-haven yen also strengthened in the short term. Tonight, Beijing time, investors will welcome us consumer price data, which is expected to reignite market volatility.

According to the latest bulletin of hubei health and fitness commission, from 0:00 to 24:00 on February 12, 2020, a total of 14,840 new cases (including 13,332 clinically diagnosed cases) of coronary pneumonia were confirmed in hubei province. A total of 48,206 confirmed cases were reported in hubei province by 24:00 on December 12.

Why the sudden surge in new confirmed cases? Hubei WeiJianWei explained, with the in-depth understanding of the new type of coronavirus pneumonia and clinical experience, according to the characteristics of the outbreak, hubei province, the national health committee general office, the state administration of traditional Chinese medicine issued by the office of the new type of coronavirus infection pneumonia diagnosis and treatment scheme (trial version 5) increased in the cases of hubei province diagnosis classification “clinical diagnosis”, so that patients can receiving standard treatment, according to the confirmed cases as early as possible to further improve the treatment success rate. According to the plan, hubei province has recently carried out screening of previous suspected cases and revised the diagnosis results, and diagnosed new patients according to the new diagnostic classification. In order to be consistent with the diagnostic classification of cases published by other provinces in China, hubei province has included the number of clinically diagnosed cases into the number of confirmed cases to be published from today.

Before that, hubei health and fitness commission’s official website, in addition to the release of suspected cases, confirmed cases, the first published new coronary pneumonia clinical diagnosis of specific Numbers.

According to the release of WeChat in wuhan, the notified clinical cases are in line with the latest version of “pneumonia diagnosis and treatment program for novel coronavirus infection”, and the clinically diagnosed cases can be treated with reference to the confirmed cases.

Xiang hao, director of the department of global health, school of health, wuhan university, analyzed and published clinical diagnosis cases, which should be in accordance with the requirements of “pneumonia diagnosis and treatment program for new coronavirus infection (trial version 5)”. This version distinguishes hubei province from other provinces in terms of case diagnosis.

Other provinces outside hubei remain classified as “suspected cases” and “confirmed cases”, with hubei adding a “clinical diagnosis” category.

Zeng guang, chief scientist of epidemiology at the Chinese center for disease control and prevention, said the “clinically diagnosed case” is one that has not been confirmed in the laboratory and has not tested positive for nucleic acid, but that the clinical symptoms “look like”, according to the global times.

Zeng said such “delayed positive” patients do exist and cannot be ruled out, so they can spread easily in society. By including them in the new cases, they can be isolated and admitted to the hospital, which is beneficial to both society and the patients themselves. He believes that the inclusion of “clinically diagnosed cases” into “confirmed cases” for publication is the right step and closes a gap in transmission.

Late February 12, according to “shiyan release” WeChat public message, shiyan city, hubei province zhang bay new crown pneumonia epidemic prevention and control command number 27 announcement, announced a bay area whole domain since February 12 24:00 implementation of wartime controls, control measures in principle in 14 days for a cycle, depending on the city and the bay zhang epidemic prevention and control effect to remove or persistent implementation in advance.

Gold surged above 1,570

After the data on the outbreak of xinguan pneumonia in hubei province was released, risk aversion in the market rose rapidly, and spot gold rose sharply in the short term, rising above the 1570 USD/oz barrier and hitting a high of 1571.34 USD/oz.

The Australian dollar fell more than 20 points in the short term on a sharp shift in risk sentiment before extending losses to 0.6706, close to the 0.6700 marks.

Meanwhile, the dollar/yen fell more than 20 points in the short term before extending its losses to 109.79.

U.S. stock index futures also extended losses, with dow and s&p 500 futures down 0.44 percent and NASDAQ futures down 0.57 percent.

“With a lot of global risk brewing behind the supply chain and demand shrinking, I still think it’s too early to downgrade the risk of Novo pneumonia and gold will continue to be bought on the dips,” Stephen Innes, chief market strategist at AxiCorp, said in a note.

George milling-Stanley, the chief gold strategist at State Street Global Advisors, said in a telephone interview with Kitco News that gold has been building a solid foundation after breaking out of its six-year range in 2019. He added that the market was now looking for the next catalyst.

Milling-Stanley said he expects gold to continue to fluctuate between $1,400 and $1,600. He also said he is bullish on the outlook for gold, which he expects to trade between $1,450 and $1,700.

On Thursday at 21:30 Beijing time, investors will welcome us inflation data, which is expected to trigger market volatility.

U.S. consumer prices are expected to rise at a 2.4 percent annual rate in January, according to media surveys. The U.S. core consumer price index is expected to rise at a 2.2 percent annual rate in January.

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