Monetary easing policy supports gold prices, so the price of gold retreats over 1858 US$ area.

Monetary easing policy supports gold prices, so the price of gold retreats over 1858 US$ area.
2020-12-08 11:54:47
  On Monday (December 7), gold fell to US$ 1822 and then rapidly climbed higher. Gold prices again reached a high level of US$1850, reaching a maximum of US$1868.5, an increase of 1.19%. Although the British decided not to continue the negotiations with the European Union, risk sentiment weighed on the market. Still, both Britain and the European Union have reiterated that the talks will proceed. According to the expectations of the market for the US dollar stimulus package, the decline in the stock market and worsening epidemic, and the expectation of the European Central Bank to expand its easing measures have all contributed to the sharp rise of the price of gold.

  The US$ 908 billion rescue plan developed by congressmen has received the support of Pelosi and Schumer as well as the senators, who are ready to engage in negotiations on the rescue plan on this basis. At the same time, lawmakers are also arguing about the $1.4 trillion comprehensive spending bill, which funds government operations. The bailout bill may be linked to the comprehensive spending bill.

  There is one bill in the state legislatures that will expire on the 11th of December to fund government operations. To avoid a government shutdown, the House of Representatives plans to vote on a one-week short-term spending bill on Wednesday.

  Representatives of the two political parties in the United States intend to present more details of the US$908 billion pandemic relief plan on Monday, aiming to reach consensus on measures for the aid program to be passed before Congress adjourns. Although progress has been made in aid package negotiations, McConnell has not compromised on the bailout bill.

  ④18:00 ZEW Economic Sentiment Index of Germany and Euro Zone in December

  ⑤19:00 US November NFIB Small Business Confidence Index

  ⑥ EIA announces monthly short-term energy outlook report at 01:00 the next day

  ⑦ 05:30 the next day API crude oil inventory from the United States to the week of December 4

  (Disclaimer: The above analysis only represents the author’s personal opinion and does not constitute a specific operation. According to this operation, the profit and loss are at your own risk, investment is risky, and you need to be cautious when entering the market.)

(Editor in charge: Zhang Yajie HF083)