Weekly

Investors are worried about the global economic recession. The international gold price has risen for two consecutive days. The gold price has reached a two-week high. If calculated by the closing price, it will reach a seven-year high and buying will continue to emerge.

The next wave will be developed.  After a sudden drop at the beginning of the week, the spot oil and oil finally started a stronger rebound. The spot oil doubled to a high of US$ 19.

The market recovered from the panic over oil prices.  However, since the outbreak began, U.S. stocks and prime oil have gone through a series of positions washing. The market demand for safe haven is very hot.

It supported the recent rise in the US dollar and gold. After a successful bottom-up in the middle of the week, the gold price surged to US$ 1739 again yesterday. It was held back by last week's double-top resistance, but the rise was not reversed.
 
The World Bank also issued a report saying that gold prices are expected to rise 15% in 2020, which means there is a good chance of hitting the US$ 2,000 mark again.  The World Bank said that in the long run,

The epidemic may have a lasting impact on the demand and supply of commodities, affecting commodity exporters and importers.  Falling demand will lead to a 13% drop in metal prices.

However, gold is expected to benefit from hedging and hedging needs and become a target for hot money inflows, up 15% this year.  Technically, although gold price was subject to double-top resistance before 1740 yesterday,

However, the low rebound is strong and the upward trajectory is healthy. If you vomit back to US$ 1715.50, you can absorb it again. As long as you can stabilize the two-day upward trend before the close of the market tonight,

The consolidation is expected to be completed and will see a more drastic increase next week.
 
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