gtag('config', 'AW-986975862');   Global Market Report 31 July 2019 | 1 Stop Gold

Gold Spot

Last trading day high 1432.50

Last trading day low 1425.00

Gold Spot was traded between 1425 level and 1430 level in the last trading hour as the market is waiting for the FOMC decision and comments. Although Trump called the Fed to cut-rate aggressively, the Fed is expected to remain their position as previous signals.

Technical Support: 1425.00/1418.00

Technical Resistance: 1435.00/1440.00

Hong Kong Protest

To act against the recent violent attack on the railway station, the protesters extended their protest trip from streets to railway stations yesterday. The non-cooperative movement disturbed the public transport nearly an hour and caused the railway system failed to operate.

Economy outlook has been weakened and the whole year performance is not optimism, according to the City executive.

Brexit

Boris Johnson has a strong intention to deliver the Brexit and promised to deliver it even without a deal with the EU. He stated that is up to the EU to compromise on the Brexit agreement to avoid a no-deal divorce.

GBP has weakened against USD drastically after Boris Johnson announced to be the new PM of UK. The market generally expects a weakening economic outlook if a no-deal Brexit is delivered.

Source: Bloomberg

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