New Zealand government will launch 12 billion to stimulate the economy, The direction of the gold market is uncertain

In Daily Market Review, English
March 18, 2020

New Zealand government will launch 12 billion to stimulate the economy

In response to the epidemic, the New Zealand government announced on Tuesday the launch of an economic stimulus package worth 12 billion New Zealand dollars (ie about 7.3 billion US dollars). The $ 12 billion NZD seems to be a small amount, but for New Zealand, it has accounted for 4% of its economic output, which is a very large stimulus package. In this plan, 600 million New Zealand dollars are used to help Air New Zealand face the impact of reducing passengers. 500 million New Zealand dollars is used for medical services, 8 billion is used to support national income and 2.8 billion is used to reduce corporate taxes.

 

The direction of the gold market is uncertain

On Tuesday, the United States and Europe issued a series of stimulus plans, which eased market concerns about insufficient policy strength and scarcity of liquidity, and gold ended its six-day losing streak. The focus of the short-term market has once again turned to assessing the impact of the epidemic crisis on the global economy, which has increased the attractiveness of gold. But analysts have warned that the recent surge in the US dollar indicates that liquidity has not been resolved and gold long positions are still too crowded, which means that the risk of gold selling remains high, and before the signs of more improvement, we are cautious about bullish gold prices.


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場外式黃金/白銀交易的風險:
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