【TOP1 Morning】 Suspicious U.S. economic plan suppresses U.S. stock oil prices, good for gold

Gold: The price of gold rose on Friday, and the weekly price is expected to rise for the second consecutive week. Spot gold rose 0.3% to US$1,839.90 per ounce, and fell as much as 0.6% earlier in the session. The settlement price of US gold futures rose 0.3% to $1,843.60 per ounce.

Silver rose 0.1% to $23.97 per ounce. Palladium fell 0.4% to US$2,322.07 per ounce, and platinum fell 1.4% to US$1,012.46 per ounce.

David Meger, head of metal trading at High Ridge Futures, said: "We still believe that the stimulus plan will be introduced, which will continue to be the potential support behind the trend of gold and silver." He added that the stagnation of the stimulus plan negotiations in the US Congress caused the gold price to return in early trading. drop.

Crude oil: As concerns about Britain’s no-deal Brexit rise, and countries such as Germany may further strengthen social isolation measures this weekend, the two major crude oil futures failed to continue their previous gains on Friday.

US WTI crude oil January futures closed down 21 cents, or 0.45%, to $46.57 per barrel; Brent crude oil February futures closed down 28 cents, or 0.56%, to $49.97 per barrel. However, because the launch of the new crown vaccine has revived the demand for crude oil, U.S. Oil still closed up 0.67% this week, which is the sixth consecutive week of gains, and the oil distribution closed up 1.46%.

Forex: The U.S. dollar rose on Friday, driven by safe-haven buying. The US dollar index rose 0.23% to 90.955. It is currently slightly higher than the two-and-a-half-year low of 90.471 touched on December 4.

The pound fell 0.50% against the dollar to $1.3223. As the possibility of a disorderly Brexit from the United Kingdom increases, bets on further volatility in the pound have increased.

The euro fell 0.23% against the dollar to $1.2115. The euro rose on Thursday when the European Central Bank announced that a new round of stimulus policies were in line with market expectations, and EU leaders reached a compromise on an epidemic assistance package.

Edward Moya, senior market analyst at OANDA, said: "In many respects, this has been a disappointing week. Washington’s aid plan negotiations have not made any progress. Brexit will once again reach a critical moment, the number of deaths and hospitalizations in the United States. It is still growing at an alarming rate, which may lead to more restrictions and lockdown measures.”

Stock market: Most US stocks closed slightly lower on Friday. The uncertainty surrounding the new round of US fiscal stimulus negotiations put pressure on stock indexes. The Dow Jones Industrial Average closed up 47.11 points, or 0.16%, to 30046.37; the S&P 500 index closed down 4.64 points, or 0.13%, to 3,663.46 points; the Nasdaq Composite Index closed down 27.94 points, or 0.23%, to report 12377.87 points.

Over the week, the Dow fell 0.6%, the S&P 500 fell 1%, and the Nasdaq fell 0.7%.