Covid hits asia’s growth, thursday july 15, 2021 1423 gold prices touched new one month highs against all major currencies on thursday before edging back as global stock markets fell together with commodities and longer term interest rates. Amid the worsening wave of kovid 19. with share prices falling for the third day in a row after setting five fresh, all time highs so far this month on the msci world index, agricultural and energy costs also fell back that took brent crude oil down to one Week, lows now more than five percent beneath early july’s three year highs after protests spread across europe against new restrictions aimed at curbing the pandemic. Gold priced in the dollar touched 1833 before retreating 10 per ounce, even as u.s treasury bonds also rose in price, pushing washington’s 10 year, borrowing cost down to 1.32 per annum. Consumer price inflation last month hit a three decade high of 4.6 on the core cpi measure. It is a pretty narrow group of things that are producing these high readings, said u.s central bank chief jerome powell to congress yesterday defending the fed’s zero rate and massive qe policies against a volley of angry comments from both republican and democrat politicians. We really do believe, and virtually all forecasters do believe that these things will come down of their own accord as the economy reopens powell went on. It would be a mistake to act prematurely. The market is simply much less fearful of a rate hike, says.

Gold price analysis from swiss refining and finance group mks pam, yield curve and price action implies. There is no taper tantrum. Quite the opposite against that. However, physical demand support is downgraded from tailwind to neutral, given prices are 50 more expensive. Since late june, gold prices in china, the precious metals number one consumer market today rose to a four week high of 380 yen per gram, but that was behind. The rise in global dollar quotes flipping the usual shanghai premium into a discount of two dollars and 30 cents per ounce, after averaging only three dollars and sixty cents above london prices. So far, this month, that’s barely 40 percent of the average incentive for new gold bullion imports prior to 2020s start of the covid pandemic in the central chinese city of wuhan. The weak shanghai premium implies rather flat neutral, as opposed to relatively stronger demand in june, says. Mks, indian and shay asia demand is re emerging, but only avid sub 1 800 per ounce, indonesia, overtakes india, as asia’s new covid 19 epicenter, says a headline today, while a shortage of vaccines means 70 of people, south korea are still waiting for their first shot, along With 85 percent in thailand and 95 in vietnam, excluding china gdp across east asia and the pacific will now grow only 4.0. This year the world bank says cutting its economic forecasts for the region, because this part of the world is far away from reclaiming lost freedoms.

Such as going back to work, opening the cinemas and restaurants tax equity index, meantime lost 0.9 percent. Today, after heavy rains caused floods, killing 18 people with 70, more missing in the arwyla district, just south of former frg capital city bonn, spain’s ibex 35 index also fell sharply, taking its drop from this time last month to the worst in europe at more than seven Percent, as regional governments began to reimpose curfews and restrictions against the delta wave of covid lockdown was absolutely essential. Saving 450 000 lives said the national government of socialist workers party chief pedro sanchez today responding to wednesday’s court ruling. That confinement was unconstitutional, allowing people fined for breaking those rules to seek a refund protests against so called covid passports hit yesterday’s bastille day celebrations in paris and saw 5000 people rally in the centre of athens. Shouting.

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