Weekly

The US White House and Congress have reached an agreement on an emergency economic assistance plan to reduce the impact of the epidemic on the economy. The scale is expected to reach 2 trillion US dollars. Before the Senate implements the details of the plan,

The market performance has been repeated, and the US stock market has been violently shaken, which has also affected the US dollar exchange rate performance.  The trend of non-U.S. currencies was also divided. The European currency rebounded for a time, but its upper support was insufficient.

Commodity currencies continued to decline, with gold prices softening again on Wednesday night after rebounding sharply on Tuesday, losing the US$ 1,600 mark.  But as countries strive to restore market liquidity,

Risk sentiment is believed to cool slightly, the recent hedging function of the US dollar will fade in the short term, and non-US currencies or markets can wander out of the low position and wait for a new round of direction.

The former chairman of the Federal Reserve spoke out for the economy yesterday. Bernanke said that the US economy is experiencing the middle of a sharp recession and will not last long.  He stressed that the current situation is very different from the Great Depression of the last century.

Not from monetary and financial shocks, but closer to natural disasters. However, the market did not buy the bill before the Senate passed it. U.S. stocks have been under pressure again since Big bounce on Tuesday.

Only before the Senate finally passed the plan did U.S. stocks gain momentum for a rebound. The market fluctuated extremely violently, reaching thousands of points back and forth. The foreign currency market also fluctuated.

The trend is different, while the gold price rebounded to a high level after rising more than 100 US dollars on Tuesday.  This morning saw a minimum return of 1,597 US dollars, and once lost the 6,000 mark. The high level saw a slight selling pressure, but the overall upward trend is still expected to continue.

Gold prices have recently suspended trading or expanded the price difference due to problems with quotation providers. The reason is that the recent epidemic situation has led to the suspension of mineral production and flights.

Some spot transactions have not been completed as scheduled, thus increasing the need for delivery in the futures market.  In the face of more cash transfers, dealers and quotation providers have not been able to obtain accurate quotations.

This also shows that there is a huge demand for spot gold. The market is in urgent need of spot transactions and will support the gold price to improve.  Therefore, with the strength of the US dollar, the gold price is expected to remain relatively stable.

Below can continue to buy in 1590 position, bargain-hunting to absorb, in countries printing money water, gold prices will continue to be supported and performance.