Because of Global demand for oil falls, production cuts fail to drive oil prices
Although there are antitrust laws in the United States, it is difficult for the United States to cooperate with oil groups to reduce production and support oil prices. However, according to the Trump administration, the United States is not seeking to reduce production with oil portfolios, but global demand for oil has fallen, so domestic oil producers in the United States have also reduced production. In any case, from the changes in oil prices on Monday, it seems that the production cuts have failed to effectively push up oil prices. At one time, this production cut might not be implemented until May 1, and it has not yet been cut. Second, the market generally believes that this reduction is far from sufficient to support oil prices. In any case, I believe it will be clear whether the production cuts will be effective on May 1.
Gold in December 2012 high
Gold prices soared on Monday, spot gold surged more than 2%, hitting a new high since December 2012, and gradually increased in the Asian market on Tuesday. At the same time, the emergence of alternative substitutions that increased the Fed’s unlimited easing also partly put pressure on the US dollar and also supported gold. Overall, gold broke through the key pressure level of US $ 1703.39, and the momentum of the short-term upward trend is obvious. The CFTC position data shows that the fund manager ’s net long gold position has not changed in the past month, suggesting that the fund manager is watching and looking for the opportunity to enter
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