Gold surged in Asian markets this morning as investors turned to safe assets, as the number of cases of the outbreak of COVID19 continued without any sign of cessation. According to the Johns Hopkins University, more than three million cases nationwide have been recorded as of July 7.

Gold was up 0.06% at $ 1787 as of 3:12am, heading for the common stock of 1,800 shares, which was in reverse course on Tuesday.

Meanwhile, the United States reported the Non-Agricultural Production Managers’ Index (ISM) of 57.1 for June on Monday. Despite higher than analysts’ estimates and an indication that the US service sector is returning to growth, some investors are still cautious about the global economic recovery.

Although this caution will provide bulls to gold in the short term, investors are still looking at the impact of positive data on government stimulus measures around the world.

Donald Trump’s re-election campaign made a “very encouraging” decision to wear masks at the next meeting of the President of the Republic as a precautionary measure.

In the announcement of Saturday’s rally in Portsmouth, the campaign said “there will be adequate facilities for hand hygiene and all participants will be provided with a face mask that they are encouraged to wear.”

This move is following Trump’s home rally in Tulsa, Oklahoma last month, has drawn widespread attention for not limiting infections, including maintaining social gaps and facial masks.

Pivot point: 1775

Resistance1:1785  ​ Support 1:1770

Resistance2:1790  ​ Support 2:1765

Resistance3:1795  ​ Support 3:1760

Today’s gold Signals:

Traders should buy gold: 1781, Set Take Profit: 1793, Stop loss: 1765.

Analyzed By： Ms. Van Sreytouch (Michelle)，Independent Analyst