China takes new stimulus measures and Trump renews trade war fears

China announced this morning a new package of stimulus measures in an attempt by PBOC to push the economy away from its slowdown, which reached the worst pace of growth in decades. The bank announced a one-year lending rate cut from 4.20% to 4.15% and a five-year term from 4.85% to 4.80%.
This comes in conjunction with Trump's remarks, which were largely disappointing to eliminate the positive actions taken by China, where Trump said that China will eventually split either a deal I love or nothing that's all. This caused uncertainty to return to global markets and increased the prospect of delaying a trade deal until 2020.
As a result, gold rose to $ 1478 an ounce, but the gains of the US dollar remain an obstacle to the continued rise of gold strongly. The US dollar succeeded in making several gains during today's trading with anticipation of the results of the US Federal Reserve meeting this evening, which may confirm the view of not taking a decision The rate cut again until the end of the year will support the dollar index rise to 97.95 levels.
The bullish gold scenario still needs to stabilize above 1480 levels per ounce to support the continuation of the rise towards 1487 levels, but if the price bounces from 1480 levels, it may return to 1460 levels per ounce.
Global equities have been hit hard by trade war developments, with the German DAX dropping to 13100 levels, selling pressures expected to continue to press trading to 13000 levels, while the Dow is expected to continue falling to 27540 levels as uncertainty continues to dominate. .
Finally, developments in world markets remain the strongest factor in oil movements and the continued decline in the coming period, as the uncertainty and trade war that lasted for more than 19 continuous months may affect demand rates in the coming period, but that OPEC announced its reduction in its expectations of demand rates In 2020.
On the other hand, continued concerns over the glut of oil supply and Russia's announcement that it does not agree to cut production again at the meeting scheduled for December 5 and 6 in Vienna keeps oil vulnerable to continued selling pressure to control it.