The heads of the three central banks have come one after another. Paper, gold, silver
2020-02-11


24K99 (North America) News Industrial and Commercial Bank of China Paper Gold Paper Silver fell in Asian markets on Tuesday (February 11). International spot gold opened at $ 1569.91 per ounce in Asian markets on Monday. The lowest price was $ 1567.61 per ounce, and the highest rose to $ 1576.80 per ounce. It closed at $ 1571.80 per ounce, up $ 1.80 or 0.11%. International spot silver opened at US $ 17.67 / oz in early trading on Monday, with the lowest down to US $ 17.64 / oz, the highest rising to US $ 17.83 / oz, closing at US $ 17.75 / oz, up US $ 0.08 or 0.45%.
 
The price of gold rose to its highest point on a week on Monday, the number of deaths caused by the coronavirus epidemic rose further, and investors sought to hedge against economic shocks.
 
International spot gold closed at US $ 1571.80 / ounce on Monday, up US $ 1.80 or 0.11%, hitting its highest point of US $ 1576.80 / ounce since February 4. COMEX April gold futures closed up 6.1 US dollars per ounce, an increase of 0.39%, to close at 1579.5 US dollars per ounce.
 
"The 'coronavirus' panic continues to lead to safe-haven funds flowing into gold, which has a positive impact on the price of gold," said Daniel Ghali, commodities strategist at TD Securities.
 
"At the same time, transactions are very crowded, which means that gains are often suppressed because people use metals to sell for profit."
 
The U.S. dollar index hit a four-month high, and the safe-haven rise in the U.S. dollar limited the rise in gold prices.
 
The number of deaths from the new crown pneumonia epidemic has surpassed SARS from 2002 to 2003. The World Health Organization says the number of cases outside China may be just the "tip of the iceberg."
 
Although the Chinese government has lifted some work and travel restrictions to help businesses resume operations, investors remain cautious.
 
Since the end of last month, the second largest economy in the world has faced prolonged business shutdowns, blockades and travel restrictions as the epidemic broke out around the Chinese New Year.
 
Treasury yields fell on Monday as investors remained cautious about the new coronavirus.
 
The yield on the benchmark 10-year Treasury note fell 3 basis points to about 1.543%, and the yield on the 30-year Treasury note fell to about 2.015%.
 
On Monday, part of the yield curve reversed again, and the 10-year Treasury yield fell below the three-month Treasury yield of 1.558%, signaling a recession.
 
Gold, regarded as a safe investment during the crisis, has a solid start to the year, and has risen by almost 4% so far in 2020, compared with an annual increase of approximately 18% in 2019.
 
The market is expecting Federal Reserve Chairman Powell to begin a two-day speech in the U.S. Congress on Tuesday, specifically commenting on China-related viruses.
 
Federal Reserve Chairman Powell will testify on the semi-annual monetary policy report in the House and Senate on Tuesday and Wednesday. He will testify in the House of Representatives at 23:00 on Tuesday evening.
 
The Federal Reserve kept its benchmark interest rate unchanged at its January policy meeting, citing moderate economic growth and a strong job market.
 
Lower interest rates lower the opportunity cost of holding unprofitable gold and put pressure on the dollar, making investors holding other currencies feel gold is cheaper.
 
In addition to Powell, the European Central Bank and the Bank of England governors will also make presentations today.
 
European Central Bank President Lagarde submitted the European Central Bank's 2018 annual report to the European Parliament and made an introductory statement as part of the European Central Bank's monetary policy assessment.
 
Bank of England Governor Carney will attend a hearing before the House of Lords' Economic Affairs Committee to answer questions on issues such as financial stability and Brexit.
 
Technically, "Gold is currently facing a resistance level of $ 1575. If it significantly exceeds this level, it may create space for further increases. The first target is $ 1600," said Carlo Alberto De Casa, principal analyst at ActivTrades, in a report.