The global economy has been continuing to shrink while the initial agreement between the two world economic powers, the United States and China, is stalling. The United States is expected to raise an additional 15% tax on imported products from China about $160 billion. But US President Donald Trump announced in October that the first agreement regarding the trade war would be before the end of 2020, and raised concerns over intellectual property and financial services issues as well as the purchase of US agriculture products value in $40 billion to $50 billion.
The Federal Reserve recently decided to keep its interest rates at 1.75%, and came up with the message: "The Federal Reserve expects to see an improvement in US inflation before deciding to raise interest rates." Also, the Federal Reserve used its interest rate to determine inflation growth in the United States, which is expected to rise by 2%.
International relations between the United States and North Korea were strained following last week's tensions. According to analysts, North Korea will continue to test its long-range missiles if its demand is not met.
Pivot Point: 1,474
R1: 1,485 S1: 1,469
R2: 1,492 S2: 1,460
R3: 1,502 S3: 1,453
Today’s recommendation, investors should buy gold at 1,471, setting take profit at 1,484 and stop loss at 1,463.
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