Abstract: Although the United States has restarted economic activity, it is difficult for the economy to rebound quickly before the new crown virus disappears. The impact of the epidemic on the retail industry will also continue to highlight, an investigation said that the US retail industry may close 20,000 to 25,000 stores this year.

June 10th Although the US has restarted its economic activities, it is difficult for the economy to rebound quickly before the new corona virus disappears. The impact of the epidemic on the retail industry will also continue to highlight, an investigation said that the US retail industry may close 20,000 to 25,000 stores this year.

On Wednesday (June 10), gold futures opened at 1718.9 US dollars per ounce, the highest up to 1725.3 US dollars per ounce, the lowest touched 1718.7 US dollars per ounce, as of press time 1724.6 US dollars per ounce, an increase of 0.16%.

U.S. retail industry may close more than 20,000 stores

The epidemic has hit the US economy hardly. Although economic activity restarts, the road to recovery will be long and the trauma caused by the retail industry will continue. A follow-up survey by Coresight Research shows that US retailers may announce the closure of 20,000 to 25,000 stores this year, of which 55% to 60% are located in shopping centers in the United States. This will also set a record in the industry. Coresight co-founder and CEO Deborah Weinswig said, "We expect that the number of US retailers applying for bankruptcy will increase significantly this year, and the number of applications for bankruptcy protection may also increase."

Moody’s chief economist Mark Zandi said that if the US federal government does not take additional economic relief measures, this year the United States may once again fall into a recession caused by the new crown virus.

Zandi warned that the economy will not fully rebound from the crisis until the new corona virus completely subsides. As long as there is a threat of the second wave of new crown virus infection, companies will not recruit or expand their businesses, and consumers will remain cautious.

Gold futures outlook

Gold futures rebounded, maintaining a rebound trend this trading day, trying to break through 1725 US dollars. However, from the 1-hour chart, the red kinetic energy bar has shortened to disappear, and the bulls have insufficient kinetic energy.

The analysis pointed out that gold quickly rebounded from the strong non-agricultural decline and recovered its vitality, highlighting the strong potential popularity and the wait-and-see interest of investors in establishing positions. However, it should be noted that in the short-term, gold is still in a fairly stable downward trend, most likely due to the stock market surge in the past few weeks. The surge in the stock market may cause "fast money" to continue selling on rallies. But in the medium term, the “banknote printing machine” model of global central banks should ultimately provide support for gold.

Broker CMC Markets chief strategist Michael McCarthy explained that given investors' enthusiasm for risky assets, it is expected that gold may still bear some pressure within the day; but on the other hand, the weaker US dollar is also in bullish gold.

In addition, the broker AxiCrop chief market strategist Stephen Innes also believes that gold is in a reasonable and stable downward trend, and it is expected that the rapid funds that have previously poured into the gold market will continue to short the gold performance on rallies, in other words, the short-term gold The rebound will be a good opportunity for bears.