The US Dollar Has Suffered "Waterloo" All The Way, And The Gold Price Still Has Enough Room To Rise

As the beautiful economic data released supported the slight recovery of the US dollar, the gold price ended its fifth consecutive rise on Thursday, and the gold and silver market closed down slightly. The Trump health care reform bill vote this week attracted the attention of gold and silver investors. The vote was blocked and postponed early this morning, and the US stock market was under overall pressure and closed down. The US stock market closed down, but the US dollar recovered slightly, and the gold price ended its fifth consecutive rise; New home sales in the United States hit a seven month high in February, with initial applications still below 300000; Federal Reserve Chairman Yellen did not comment on monetary policy in his opening speech yesterday; The vote on the health care reform bill endorsed by Trump and proposed by Republicans in the House of Representatives was postponed.

With the recovery of the US dollar, the price of gold futures closed down on Thursday, ending the previous five consecutive trading days of gains. Gold futures for April delivery on the New York Mercantile Exchange fell $2.50, or 0.2%, to close at $1247.20 per ounce on Thursday. Silver futures for May delivery rose 1.5 cents or 0.1% to close at 17.593 US dollars/ounce.

Since the Federal Reserve raised interest rates, the dollar has suffered a "Waterloo" all the way. Yesterday, it finally breathed a sigh of relief under the support of several beautiful US economic data. On Thursday, the sales of new homes in the United States jumped to a seven month high in February, indicating that the recovery of the housing market continues to accumulate momentum despite rising house prices and tight supply. At the same time, although the number of new applicants unexpectedly increased to a seven week high, it was still below the 300000 mark, and the employment market continued to tighten.

The market expects that the two together should boost economic growth, and the US dollar will therefore receive some support. Although Chairman Yellen of the Federal Reserve did not comment on monetary policy in his speech on Thursday, and some officials of the Federal Reserve had made hawkish speeches before, this year's vote committee Kashkari firmly took a dovish stance, and the momentum of the dollar's rise was still insufficient. According to the report released by Daming Securities, "after the dovish stance of the Federal Reserve, there is room for gold prices to rise further in the future. In addition, the current positive factors in the gold market also include the European election and the US President Trump's Trade And stimulus policies, etc. "

Recently, political uncertainty in the United States is one of the focuses of the gold and silver market. One of the boosts of this week's rally also came from this, including doubts about Trump's commitment during his election campaign. According to the mainstream financial media in the United States, the health care reform bill proposed by Republicans in the House of Representatives of the United States Congress has been postponed. Reuters quoted senior Republican aides in the House of Representatives as saying that the House of Representatives will only conduct procedural voting on Thursday, and plans to conduct a full vote on Friday.

The vote on the health care reform bill was delayed again and again, and was frequently blocked US stocks The whole line ended lower. In an interview, the "new king of debt" Gunak said: "The survey shows that people believe that the adjustment of Obama's medical insurance is the most likely thing to be passed in the Trump plan. If even this cannot be passed, other plans will certainly be put on the question mark. If the Republican Obama's alternative medical insurance plan fails to pass or is delayed, then Trump's market, which previously pushed up the yield of the U.S. stock market and national debt, may be difficult to maintain."

In addition, the UK's Brexit negotiations were again challenged by the EU. Yesterday, the EU chief negotiator in charge of the future Brexit negotiations with the UK, Daniel Barnier, made a rare voice since taking office, setting out three conditions for the Brexit negotiations, saying that safeguarding the rights of 4.5 million EU and British citizens living overseas is the most important consideration. But Barney also warned that if Britain and european union If no agreement can be reached on Brexit, there may be some risks.

The Brexit negotiations are regarded as extremely difficult negotiations, and the market's concern about this clearly supports the safe haven demand for gold. At the same time, the world's largest gold ETF - SPDR GOLD TRUST recorded capital inflows for two consecutive days, with a total of nearly 9 tons, which almost reversed more than half of the capital outflows this month, meaning that gold prices still have enough room to rise.

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