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Market news: Lebanese authorities say Wednesdays Israeli attack killed 182 people and injured 890.Futures News, April 9th: Styrene prices rose initially this week before falling. As of April 8th, the average closing price in Jiangsu market was 10,250 yuan/ton, a decrease of 150 yuan/ton from April 1st, representing a 1.44% increase. Price fluctuations this week were primarily driven by costs. 1. Costs: Crude oil prices remained high, continuing their upward trend. On April 8th, European and American crude oil futures experienced their largest single-day drop in six years, with Brent crude down 6.34% from April 1st. Benzene prices also fluctuated with oil prices. Simultaneously, influenced by raw material supply, the market anticipated a tighter benzene supply in April, providing some support for prices. As of the close of trading on April 8th, the average price in East China market was down 1.47% from last Wednesday. 2. Supply and Demand: Although some plants restarted, contributing to increased production, many plants in South China reduced their operating rates, resulting in an overall decrease of 1.22% in styrene production this week. Downstream EPS production is expected to decline, PS production to increase slightly, and ABS production to fluctuate narrowly. Consumption may decrease slightly, with domestic demand entering a relatively stable low-level state. Port inventories at major ports increased rather than decreased during the week, somewhat dampening market sentiment. 3. Forecast: In the crude oil market, market sentiment is volatile, and oil prices may continue to rise in the short term. Regarding styrene fundamentals, although 0.3 million tons of export shipments are expected at major ports next week, increased arrivals by road and sea transport may hinder inventory reduction, potentially suppressing market gains.The subscription multiple for the Japanese five-year government bond auction was 3.58, compared to 3.69 in the previous auction.Musk: Teslas V15 Autopilot is far safer than humans in completely unsupervised and complex situations.April 9th - According to CNN, the latest satellite images provided by the European Space Agency show thick black smoke rising from the Abqaiq processing facility in Saudi Arabias Atatürk. This comes after reports that Iran launched an attack on Wednesday. According to Saudi Aramco, the Abqaiq plant is the worlds largest crude oil stabilization unit, supplying approximately 5% of the worlds oil. The facility processes sour crude oil into sweet crude, which is then transported to Saudi Arabias east and west coasts via the "East-West Pipeline." Due to severe trade disruptions caused by the war with Iran, this pipeline is one of only two routes in the region that bypass the Strait of Hormuz.

The election battle has already started. Who will benefit the gold price?

Eden

Oct 25, 2021 13:27

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If Trump loses power, gold prices may rise before the election

Under the epidemic, the Federal Reserve introduced an unlimited amount of easing policy, coupled with Congress’s rescue plan, which triggered a bubble in the financial market. The market risk was very high when it was realized, but because it was the election, the breakpoint was still not reached. In addition, the market generally believes that Trump’s election is beneficial to the stock market. Therefore, if Trump loses its position in the election, some investors may withdraw their funds from the stock market and turn to assets they consider safer, such as gold. High gold prices. This situation may occur before the general election, so changes in the election situation must not be ignored.


Biden's 7.3 trillion dollar policy or favorable gold market

If Biden is elected, it will undoubtedly ease the conflict at home and abroad and effectively suppress the epidemic. However, because the United States has suffered severely due to the epidemic, after Biden is elected, the chances of financial markets returning to before the epidemic are not low. The price of gold will return to the economy and fundamentals and will be affected by changes in the quantitative easing policy.


Judging from the current situation, the Fed stated earlier that unlimited easing will continue until 2023, which will allow gold prices to be supported to a certain extent. Therefore, at least before 2023, the election of Biden as president has limited impact on gold prices.


In addition, Biden proposes to launch a spending plan of US$7.3 trillion in the next 10 years. Some analysts believe that this is good for gold prices. Because of the increase in US government debt, the dollar will weaken and the price of gold will rise.


Even if Trump is re-elected, he will face a weak US economy, and the market's safe-haven demand for gold will not decrease.


Finally, if the elected president and the Congress belong to the same party, it is undoubtedly the most beneficial for governance. However, if the president and Congress split the party, the power of the president is weakened and domestic conflicts increase, which may benefit the price of gold.


If it is a real gold investment, the current gold price is under pressure and you can consider entering the market. However, if you participate in the form of leverage, you must pay attention to the current market sentiment, as the price of gold fluctuates greatly during the general election.


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