gtag('config', 'AW-986975862');   Global Market Report - 22 July 2019 | 1 Stop Gold

Gold Spot

Last trading day high: 1441.5

Last trading day low: 1420

The gold price slid to the 1420 level as the higher probability on a conventional rate cut. Although central bankers had been urged to act aggressively on monetary policy for economy stimulation, the major player and some central bankers are looking for a conventional rate cut.

The dollar recovered some loss and the gold spot came back to technical support.

Technical Resistance: 1440

Technical support: 1420

Oil Price

The existing tension in Strait of Hormuz failed to cast a solid fundamental to spike the oil price. Although one-fifth of the oil is transported through there, the market seems not as sensitive as previous.

UK and Iran are not able to come into a solution on the seizure of tanker on Straits of Hormuz.

USDMYR

USDMYR traded between 4.1100 to 4.1200 throughout the morning session. The recover of USD spot put some upward pressure on USDMYR.

Hong Kong Chaos

The protest in Hong Kong extend and there are some resources reported that billions of dollars had been withdrawing from Hong Kong and transferred to a safer nation.

 

Source: Bloomberg

 

 

 

 

 

 

Free Insured Shipping With Every Purchase !!! Dismiss