Gold continued its recent rally after President Trump\nexpressed dissatisfaction with the progress made in immigration talks between\nthe United States and Mexico. Yesterday’s gold rally came to a sudden halt when\nSenate Finance Committee Chairman Charles Grassley predicted progress in the\ntalks – leaving $10 of gains of about $15 a day.\nHowever, gold still succeeded in ending the day positively. It is currently\ntrading at 1337 – up $6 from yesterday’s\nclosing. Silver prices rose 15 per day at $14.96. In addition to general market\nconcerns, President Trump also threatened yesterday to impose customs duties on\nanother $300 billion wort of Chinese imports.<\/p>\n\n\n\n
At $1337 an ounce, gold rose $62 over the past week, up\nnearly 5%. Although we doubt short-term coverage has played an upward role in\nthe past few days, it is difficult to determine with any confidence to what\ndegree it has been a factor. One important element was the strong institutional\nbuying in response to recession concerns and speculation that the Federal\nReserve will now move to lower interest rates before the end of the year.<\/p>\n\n\n\n
The main resistance level is at 1357.66. This is the line of\nresistance between 2014-2019. There are \nmany of resistance points above to 1392.55 2014 and\nwe think it will take several attempts to overcome this major resistance. But\nin the long term, we still consider this as a potential\nbaseline model, which will be targeted once it is completed near 1690. “<\/p>\n\n\n\n
“Imagine yourself and your\nloved ones in the midst of a strong blizzard that lasts for years, think about\nwhat you may need, who can help you and why your fate may be important to\nanyone else.” History warns that the crisis will reshape the basic\nsocial and economic environment that is now taken for granted.<\/p>\n\n\n\n
“The central bank’s net purchases totaled 651.5\ntrillion in 2018, up 74 percent year-on-year,” the World Gold Council said\nin its report on gold demand at the end of the year. This is the highest level\nof annual net purchases since the suspension of the\ndollar conversion to gold in 1971, and the second highest annual total\never. These enterprises now possess\napproximately 34,000 tons of gold. Increasing geopolitical and economic\nuncertainties throughout the year have prompted central banks to diversify\ntheir reserves and refocus their attention on the main objective of investing\nin safe, liquid assets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold continued its recent rally after President Trump expressed dissatisfaction with the progress made in immigration talks between the United States and Mexico. Yesterday’s gold rally came to a sudden halt when Senate Finance Committee […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":1223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[62,4],"tags":[36,34,114,53,78,56,55,54,109,115],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1222"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=1222"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1222\/revisions"}],"predecessor-version":[{"id":1224,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/1222\/revisions\/1224"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/1223"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=1222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=1222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=1222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}