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The epidemic situation in Hong Kong is gradually easing, with zero confirmed cases recorded for several days in a row. The public hopes to realize that the day of normal social life as soon as possible is not far away, but the economic recovery may take longer.
 
Chen Maobo, Hong Kong's Financial Secretary, said Hong Kong's GDP forecast for this year may be further lowered.  Previously, the government predicted that Hong Kong's GDP would shrink by 1.5% this year.

The World Monetary Fund expects global GDP to shrink by 3% this year, while Hong Kong is the worst performing region among the four little dragons in Asia.
 
U.S. released its first GDP on Wednesday, registering a -4.8% growth under the influence of new drugs, the worst since the financial tsunami brought about by the U.S. sub-crisis in 2008.
 
On the same day, the Federal Reserve also released the latest monetary policy, aware of the worsening economic situation, and the interest rate will remain low at 0-0.25% for a long time.

Federal Reserve Chairman Powell stressed that he would maintain the current level until the economy can pass the test of the disease and support the goal of maximizing employment and stabilizing prices, while continuing to buy unlimited quantities of needed government bonds and homes.

Commercial mortgage-backed securities, etc., support the operation of the market.

U.S. crude oil rose 5% on Friday and the settlement price of U.S. crude oil futures rose to 20 U.S. dollars for the first time in the past four weeks as oil prices recorded a rise in Zhou Du as OPEC and its allies began record production cuts in May.

And investors hope that the problem of the sharp drop in demand caused by the new crown virus crisis will be solved, which is also the reason for the rise in oil prices.

The gold market fell 29 US dollars last week, reaching a low of 1,670 US dollars. The main reason was that countries showed signs of easing various blocking measures triggered by the new coronavirus.  The epidemic situation is as serious as that in the United States, with more states following Georgia's lead.

Gradually relax social restrictions to a limited extent.  Investors' appetite for risk increased, making gold, as a safe haven, the target of selling, with stocks rising and gold prices falling on Thursday.

However, US President Trump suddenly announced on Friday that he would levy a trillion US dollars in tariffs on China to punish China for concealing the virus epidemic.  This remark once again disrupted the economic situation, and investors chose to return to the safe haven area, eventually closing at 1,698 US dollars.

The value of gold is the beneficiary of low interest rates and monetary easing policies, and it is still worth looking forward to in the medium and long term.  It is expected that the gold price will move between 1696 and 1712 under a good light seesaw when the market opens this week.

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