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RBA Governor said the impact of the epidemic on the economy was unimaginably serious, Gold price returns to 1720 level

RBA Governor said the impact of the epidemic on the economy was unimaginably serious
Following the New Zealand Central Bank’s last week’s statement that negative interest rates are only options that are not necessarily required, the Australian Central Bank Governor Lowe also said on Thursday that the epidemic was under control and the impact of the epidemic on the economy was not originally imagined Seriously, he expects the RBA to loosen again and have a small chance of lowering the interest rate to negative interest rates. However, he emphasized that since the local economy is still facing many unstable factors, it implies that the low interest rate environment will continue for a long time.

Gold price returns to 1720 level
Spot gold fell first and then rose on Friday, because there is news that some banks with gold and silver trading business are preparing to sharply reduce their gold positions in COMEX. Gold once fell by nearly 10 US dollars, but because of international trade concerns and the impact of the epidemic on the global economy, therefore, gold subsequently recovered all losses. During the day, he paid attention to Fed Chairman Powell’s speech on monetary policy and expected to continue to reiterate that negative interest rates will not be implemented, but he may convey further stimulus measures and expectations for the US economic outlook, which will have a direct impact on gold.

 




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