Although global vaccine producers are on their way to get regulatory approvals from the US and the UK, the surge in the covid numbers hasn’t faded yet, which in turn keeps the market players worries unless the cure to the pandemic rolls out. Also portraying the virus pessimism is the record high hospitalization rate in the US as well as the latest resurgence in Asian countries like Japan and India.

“Gold is consolidating Friday’s bounce from the long-held support at $1850, buoyed by a broadly weaker US dollar, courtesy of the covid vaccines-led optimism.”

Additionally, challenges to the soft Brexit, due to the disagreement over the key issues including fisheries, governance and competition rules, joins the doubt over the future of the Federal Reserve’s emergency lending program to weigh on risks. Furthermore, US President Donald Trump’s tiring efforts to stop the President-elect Joe Biden from reaching the White House also add to the market’s lack of clarity and sour the trading sentiment.  “Covid data, uncertainty over Fed’s emergency program battle optimism concerning virus treatments, Brexit. Gold bounces off intraday low of $1,868.90, keeps pullback from the previous day’s top surrounding $1,880.”

Amid these catalysts, S&P 500 Futures wobble around the mid-3,500s with no clear direction. It should also be noted that markets in Japan are closed for the day and hence fewer moves are expected unless any surprises erupt from the risk front.

“Gold Price Analysis: XAU/USD holding onto critical $1871 level amid vaccine progress – Confluence Detector”

Though, the preliminary readings of November month’s activity numbers for the leading economies, like the US and the UK, will be important to watch for the day.

Considering the bullish MACD signals, gold buyers are likely aiming at the one-week-old falling trend line and 10-day EMA joint, around $1,879-80, during the further recovery moves. However, the $1,900 round-figure can restrict the metal’s short-term upside. On the contrary, the $1852/48 support area, comprising the recent lows and May’s bottom, becomes the key support to watch if the bullion turns to the south.

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TEHRAN (Iran News) – Staff of Iran’s Armed Forces released a statement early on Saturday noting that the cause of the Ukrainian civil plane crash has been human error in an air defense base.

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“A slap was delivered last night, but what is important is that the seditious presence of America in the region should be ended,” Ayatollah Khamenei said on Wednesday.

The Leader’s remarks, broadcast live on national television, came hours after Iran’s retaliation against the US assassination of the Middle East’s most prominent anti-terror commander and his Iraqi trench mate Abu Mahdi al-Muhandis.

Ayatollah Khamenei said Iran is quite equipped in the face of global bullying powers and retaliation.

The Leader hailed the Iraqi parliament’s decision ordering US troops to leave the country as well as the Iranian parliament’s blacklisting of American forces as terrorists.

“The Americans want Iraq to be like the former idolatrous regime in Iran or Saudi Arabia today – a region full of oil to be under their control so they can do whatever they want – a milking cow in the words of that individual,” he said in reference to US President Donald Trump.

“But the faithful elements and the Iraqi youth and their Marja’iya (religious authorities) stood up to these scenarios, and Haj Qassem assisted this vast front as an active adviser and an honorable supporter,” the Leader added.

The US, Ayatollah Khamenei said, has similar plans for Lebanon. “The Americans are willing to clear Lebanon of the most important factor of independence which is the resistance so that they cannot resist.”

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Iraq’s Arabic-language al-Forat news agency reported that the US-led coalition took the decision on Tuesday to move its command center from the Iraqi capital Baghdad to Kuwait City.

The Qatar-based and Arabic-language Al-Jazeera news network, citing a report published by the German DPA news agency, later confirmed the account.

The report came only a day after Iraq’s caretaker Prime Minister Adel Abdul-Mahdi said his country and the United States should work together on implementing the withdrawal of all foreign troops from the country.

Abdul-Mahdi made the remarks while talking to US ambassador Matthew Tueller after Iraqi lawmakers unanimously approved a bill demanding reduction of all foreign military forces presence led by the United States from the country.

“The prime minister stressed the importance of mutual cooperation on implementing the withdrawal of foreign troops, in line with the Iraqi parliament’s resolution, and to set relations with the United States on a proper foundation,” Abdul-Mahdi’s office said in a statement on Monday.

“He stressed how dangerous the situation is right now and its potential consequences, adding that Iraq is doing everything it can to prevent the descent into open war.”

Also on Monday, the deputy secretary-general of Iraq’s al-Nujaba Movement slammed the US assassination of General Soleimani and Muhandis, saying a united front is going to be formed against the military presence of the US in the region.

“The leaders of Iraqi resistance groups will convene a meeting either today or tomorrow to declare the formation of a united front against the US [military] presence. It is better for us (resistance factions) to join forces and deal with Washington, which classifies us in the same category,” Nasr al-Shammari said in an exclusive interview with Lebanon-based Arabic-language al-Mayadeen television news network.

“The battle has now moved to the heart of Washington’s allies in the region, which are pushing for attacks targeting us. The term international terrorism applies to the United States once it came to our region and occupied it,” Shammari added.

He noted that the blood of General Soleimani and Muhandis frustrated all US plots against Iraq, emphasizing that his group had always been skeptical about US actions in the Arab country.

“The American presence in Iraq is harmful to military operations against ISIS and the country itself… We will go to war against the American military presence wherever possible in the region,” Shammari said.

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TEHRAN (Iran News) – Qatar Foreign Minister, Mohammed bin Abdulrahman Al Thani is slated to visit Tehran today, according to Iranian Foreign Ministry Spokesman Abbas Mousavi.

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The tremor hit the town of Sangan, in Khaf County, at a shallow depth of 8 kilometers at 07:59 a.m. local time (04:29 GMT) on Thursday.

Hojjatali Shayanfar, director-general of the provincial emergency department, said, “We have not received any reports of casualties until this moment, but a large area has been affected, which our survey teams are investigating to search for after quake situation in Khorasan-e Razavi.”

However, he added, there has been damage to livestock storage units because the quake-hit area is home to the nomadic population.

Khaf Governor Hossein Sanjarani confirmed that the earthquake had no casualties, but killed some livestock.

Aid workers have been deployed to the affected region, he pointed out.

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According to Fars News Agency, Iraqi President Barham Salih announced his resignation on Thursday to open up for public choice after protests over unemployment and low-quality public services.

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TEHRAN (Iran News) – Iranian university professor, Masoud Soleimani, who was jailed by the US authorities, was delivered to Iranian officials in Switzerland in the early hours of Saturday.

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