gtag('config', 'AW-986975862');   Global Market Report 5 Aug 2019 | 1 Stop Gold

Gold Spot

Last trading day high 1446.00

Last trading day low 1434.00

 

Gold has hit a fresh six year high, due to rise in global uncertainty and renewed fear sentiment in financial market were triggered. Global bond yields are also playing a critical supporting role for gold price, providing further upside. The global move towards easing monetary policies is impacting the bond worldwide. Analysts are staring to point to a possible breakout towards the U$1500 level.

Technical Support 1436/1430

Technical Resistance 1450/1460

 

 

China Yuan Tumble past 7 per Dollar

China Yuan plunged beyond 7 per dollar for the first tune since 2008 amid speculation Beijing was allowing currency depreciation to counter U.S. latest tariff threat. The exchange rate tumbled 1.2% to 7.0256 a dollar and the offshore yuan sank as much as 1.9% to a record low, while the Shanghai Composite Index slid 0.3%.

Asia stock markets trade lower

Asia stock markets are set to remain under pressure Monday as investors fretted over the escalation in the U.S. – China trade war. The Nikkei fell 1.09% in early trade, adding to its losses from last Friday where it had declined more than 2%.

Hong Kong Strike

Protester look to shut down the city with a general strike today. An estimated 100 flights were shown as being cancelled on Monday and media report said this was due to aviation workers planning to strike.

Source: Bloomberg, CNBC

 

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