Weekly

Last week, the process of reaching an agreement on a new round of fiscal stimulus in the United States changed dramatically, and the plot reversed again and again. On Monday, US House Speaker Pelosi said,

I am confident that I can reach a consensus with my party friends and Republican lawmakers, but US President Trump tweeted at 2 pm local time in the United States on Tuesday, expressing dissatisfaction with Pelosi's sincerity.

Trump said that the Republican Party had given a very generous $1.6 trillion plan, while Pelosi and the senators of the Democratic Party of the United States did not mean to negotiate in good faith, so he ordered his representatives.

Stopped negotiations with Congress on the new bail-out plan, saying that discussions would be postponed until after the November 3 general election. His post caused the three major stock indexes in new york to close down by 1.3% to 1.5%.

I don't know if Trump saw that the stock crash would affect the election. Twelve hours later, US President Trang pushed a sudden message again, which reversed the story again, saying that he was willing to sign a $1,200 national stimulus check to the public.

And support airlines and new small business relief programs. However, Pelosi objected this time, reiterating that there is only a new round of fiscal stimulus package as a whole, and will not support any part of the aid package.

However, Federal Reserve Chairman Powell warned earlier that the US economy has not fully recovered, and called on the government to provide more help to enterprises and families. The market interprets the new aid program as a political bargaining chip,

Finally, an agreement will be reached. Trump's remarks made US stocks retaliate, rising by 1.7%-1.9% respectively, completely recovering the previous losses. The global COVID-19 epidemic is expanding, but there are also good news;

When US President Trump was admitted to Walter Reed National Military Medical Center for treatment of COVID-19 pneumonia, "Regenerative Yuan", a pharmaceutical company that provided an "antibody cocktail therapy" that was still in the experimental stage, announced yesterday last Thursday.

It indicates that it has applied to the US Food and Drug Administration for emergency use authorization for its SARS-CoV-2 antibody therapy. It is reported that Trump promised earlier that if he applied for emergency authorization, the government would provide the initial dose to the American people free of charge.

And is responsible for distributing epidemics. US President Trump's export skills made waves in the market, and the price of gold was not spared. Last week, the lowest price was $1,873 per ounce, and the market confirmed that the market interpreted the new aid program as a political bargaining chip.

In the end, an agreement will still be reached, expecting that the new US dollar will lead to the downward adjustment of the US dollar. The gold price failed to retry the level of US$ 1,900 per ounce when it opened on Monday, but it successfully broke through on Friday and closed at a full-day high of US$ 1,937 per ounce.

A total of $37 rose in one week, and recorded an increase of $37 for two consecutive weeks, indicating that the price of gold gradually strengthened. There is an unstable political situation in the United States before and after the presidential election, which is conducive to the trend of gold.

The trend also broke through the trend line extended on August 7th, and gold has the opportunity to challenge the $ 1937/1950 upward again.

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