Gold prices rise ahead? US-China clash risk–the NASDAQ pressing eyes buy from

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Today’s points

Gold expect the key ECB interest rates to remain at present or lower levels for an Background US interest rates lower and the dollar only
The stock market is”in 2021 for the economy is picking up for us to”incorporate some
Summer wither of 8 months, by 2021 the US-Japan earnings forecasts:the end of the year high is it?
The U.S. market forecasts to confirm the”growth-led market”
DX accelerated dissemination of:the NASDAQ of the hand is targeting you?

These 5 points about the Rakuten Securities Economic Research Institute chief global strategist of Kagawa 睦氏 of view and to introduce.

Gold expect the key ECB interest rates to remain at present or lower levels for an Background US interest rates lower and the dollar only

The virus spread around the anxiety and easing the prolonged expected tug-of-war in the stock market is the upper limit of weight, etc. Exchange rates in the European Union (EU) is an economic stimulus expected to receive the Euro is strong and on the other hand, the U.S. dollar(dollar index)is about 2 years low decline. 105 yen appreciation of the yen have led to.

In this situation, the New York gold futures in 2011 (9 months since)for about 9 years, highs have been noted. 29 day’s closing price (1953 dollars/Troy ounce)is beginning to come in about 28% of the rise in”2000 dollar break through”is also now in sight.

Gold prices were strong factors

(1) Corona infection along with the expansion of the economy and uncertainty about the future
(2) the U.S. nominal interest rates and real interest rates decline (Chart 1)
(3) U.S. dollar fall to prepare for the”alternative currency”demand
(4) such as stocks and bonds the traditional asset and features of the different”alternative assets(alternative)”demand
(5) contingency accrual that”risk hedging”(follow the gold holdings) demand

And the like.

Especially(5), the rice Trump regime Pompeo Secretary of State’s speech(7 on 23rd) at the China policy to”security faces the threat of”emphasizing a tough stance on the turn,the Communist Party of China and XI Jinping General Secretary to name the criticism began.

The presidential election towards support for the inferiority is clear and not Trump the President,the East China Sea(Spratly Islands)and the Taiwan Strait in China’s hegemony will not tolerate attitude shows”a strong President”started to appeal to a view that is also so influential.

The military conflict tensions are high(stocks and the dollar will fall when)the price of gold will rise.”risk diversification effect”is also expected, as well.

, the decline in real interest rates is gold expect the key ECB interest rates to remain at present or lower levels for the main factors of

(Source)Bloomberg by Rakuten Securities Economic Research Institute the creation(the beginning of 2008~2020 Years 7 Months 29 days)