Substantial progress has been made in Sino-US trade consultations to return gold to its original form!-Shanghai Metals Market

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Substantial progress has been made in Sino-US trade consultations to return gold to its original form!

Translation 02:32:10PM Oct 12, 2019 Source:The first Gold Network
The content below was translated by Tencent automatically for reference.

SMM, Friday (Oct. 11) the market was affected by Sino-US trade negotiations and the optimistic news of Brexit, market risk appetite rebounded, safe haven gold was under severe selling pressure, spot gold fell nearly $30 from its high to $1470 / oz, and spot gold closed at $1489.01 / oz.

The most important figure for next week will be US retail sales figures released on Wednesday, which are expected to rise 0.3 per cent in September. The Fed's brown book is also scheduled for release on Wednesday and investors need to keep a close eye on it.

Substantive progress has been made in the new round of Sino-US high-level economic and trade consultations. Trump and Liu he met from Thursday (October 10) to Friday (October 11) local time. Under the guidance of the important consensus of the heads of state of the two countries, frank, efficient and constructive discussions were held on economic and trade issues of common concern. The two sides have made substantial progress in agriculture, intellectual property protection, exchange rate, financial services, expansion of trade cooperation, technology transfer and dispute settlement. The two sides discussed the arrangements for follow-up consultations and agreed to work together in the direction of reaching a final agreement. On Friday, US President Trump also met in the Oval Office with Liu he, member of the political Bureau of the CPC Central Committee, vice premier of the State Council, and Chinese leader of the China-US Comprehensive Economic Dialogue, who is holding a new round of high-level economic and trade consultations between China and the United States in Washington.

Trump said he is pleased to see that the first phase of the US-China economic and trade consultations has achieved substantial results, which is a major benefit to both the United States and China and the world. It is hoped that the teams of the two sides will step up their work, finalize the text of the first phase of the agreement as soon as possible, and continue to promote follow- The United States welcomes Chinese students to study in the United States. Trump also said on Twitter that good things were happening at the China Trade Conference.

On the back of good news from Sino-US trade, safe-haven gold and the yen both sold off, especially as gold fell as much as $30 in the last trade and hit an intraday low of $1473.83 an ounce. "prices are on a downward trend, deviating from core fundamentals and responding to market sentiment. When market sentiment fluctuates, you can expect prices to fluctuate sharply, "said Vandana Bharti, assistant vice president of commodities research at SMC Comtrade. Rhona O'Connell, an analyst at INTL FCStone, believes that any rising risk appetite among investors will hit gold prices.

There has been a constructive dialogue between Britain and Ireland. Britain has increased the probability of Brexit.

Brexit Minister Buckley and EU Chief Brexit negotiator Barnier met in Brussels on Friday morning local time. A spokesman for the European Commission said the two sides were continuing their efforts to reach a Brexit agreement and that the talks were constructive. According to the latest report in the Guardian, Barnier, the chief representative of the EU's Brexit negotiations, has been approved by the 27 countries of the European Union to negotiate with Britain on the current issue of the Brexit agreement.

Barnier, the EU's chief Brexit negotiator, told the 27 member states that Britain had agreed not to set up checkpoints at customs borders as an alternative to the guarantee agreement, EU sources said. British Prime Minister Johnson said there was a constructive dialogue with the Irish prime minister yesterday, but that did not mean a Brexit agreement had been reached. EU officials say there are positive signs of Brexit talks with Britain and hope to reach a Brexit agreement by next week. Risk aversion has cooled as investors reassess the prospect of a last-minute Brexit deal between the UK and the EU, putting some pressure on spot gold.

Many investors had seen another delay in Brexit as the most likely scenario, with little chance of a Brexit deal by the end of October. JPMorgan Chase said on Friday that it had raised the chances of a Brexit deal from 5 per cent to 50 per cent. Todd Horwitz, chief market strategist at BubbaTrading.com, said gold closed below $1500 on Thursday, confirming the possibility of gold testing a recent low of $1460. The first target for short sellers is $1440, but gold will not plummet.

"Click to sign up for the Lithium Power Industry chain Summit

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Key Words:  Gold price  Sino-US trade  Brexit 

Substantial progress has been made in Sino-US trade consultations to return gold to its original form!

Translation 02:32:10PM Oct 12, 2019 Source:The first Gold Network
The content below was translated by Tencent automatically for reference.

SMM, Friday (Oct. 11) the market was affected by Sino-US trade negotiations and the optimistic news of Brexit, market risk appetite rebounded, safe haven gold was under severe selling pressure, spot gold fell nearly $30 from its high to $1470 / oz, and spot gold closed at $1489.01 / oz.

The most important figure for next week will be US retail sales figures released on Wednesday, which are expected to rise 0.3 per cent in September. The Fed's brown book is also scheduled for release on Wednesday and investors need to keep a close eye on it.

Substantive progress has been made in the new round of Sino-US high-level economic and trade consultations. Trump and Liu he met from Thursday (October 10) to Friday (October 11) local time. Under the guidance of the important consensus of the heads of state of the two countries, frank, efficient and constructive discussions were held on economic and trade issues of common concern. The two sides have made substantial progress in agriculture, intellectual property protection, exchange rate, financial services, expansion of trade cooperation, technology transfer and dispute settlement. The two sides discussed the arrangements for follow-up consultations and agreed to work together in the direction of reaching a final agreement. On Friday, US President Trump also met in the Oval Office with Liu he, member of the political Bureau of the CPC Central Committee, vice premier of the State Council, and Chinese leader of the China-US Comprehensive Economic Dialogue, who is holding a new round of high-level economic and trade consultations between China and the United States in Washington.

Trump said he is pleased to see that the first phase of the US-China economic and trade consultations has achieved substantial results, which is a major benefit to both the United States and China and the world. It is hoped that the teams of the two sides will step up their work, finalize the text of the first phase of the agreement as soon as possible, and continue to promote follow- The United States welcomes Chinese students to study in the United States. Trump also said on Twitter that good things were happening at the China Trade Conference.

On the back of good news from Sino-US trade, safe-haven gold and the yen both sold off, especially as gold fell as much as $30 in the last trade and hit an intraday low of $1473.83 an ounce. "prices are on a downward trend, deviating from core fundamentals and responding to market sentiment. When market sentiment fluctuates, you can expect prices to fluctuate sharply, "said Vandana Bharti, assistant vice president of commodities research at SMC Comtrade. Rhona O'Connell, an analyst at INTL FCStone, believes that any rising risk appetite among investors will hit gold prices.

There has been a constructive dialogue between Britain and Ireland. Britain has increased the probability of Brexit.

Brexit Minister Buckley and EU Chief Brexit negotiator Barnier met in Brussels on Friday morning local time. A spokesman for the European Commission said the two sides were continuing their efforts to reach a Brexit agreement and that the talks were constructive. According to the latest report in the Guardian, Barnier, the chief representative of the EU's Brexit negotiations, has been approved by the 27 countries of the European Union to negotiate with Britain on the current issue of the Brexit agreement.

Barnier, the EU's chief Brexit negotiator, told the 27 member states that Britain had agreed not to set up checkpoints at customs borders as an alternative to the guarantee agreement, EU sources said. British Prime Minister Johnson said there was a constructive dialogue with the Irish prime minister yesterday, but that did not mean a Brexit agreement had been reached. EU officials say there are positive signs of Brexit talks with Britain and hope to reach a Brexit agreement by next week. Risk aversion has cooled as investors reassess the prospect of a last-minute Brexit deal between the UK and the EU, putting some pressure on spot gold.

Many investors had seen another delay in Brexit as the most likely scenario, with little chance of a Brexit deal by the end of October. JPMorgan Chase said on Friday that it had raised the chances of a Brexit deal from 5 per cent to 50 per cent. Todd Horwitz, chief market strategist at BubbaTrading.com, said gold closed below $1500 on Thursday, confirming the possibility of gold testing a recent low of $1460. The first target for short sellers is $1440, but gold will not plummet.

"Click to sign up for the Lithium Power Industry chain Summit

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Key Words:  Gold price  Sino-US trade  Brexit