As one of the global's main trading objects, gold always attracts attention. Updates and every move are always highlighted by many market participants. According to the data, gold is now moving to a level of about $1,848-50. This is a pretty good development.

Meanwhile, the price change also extended Friday night's recovery at the start of the Asian trading session. More precisely is what happened on Monday. When viewed, various market conditions and information updates of several countries affect the position of this commodity.

The Coronavirus (COVID-19) pandemic and Chinese-American tensions are poised to stoke risk sentiment. However, there are expectations that U.S. stimulus will benefit gold sellers. Furthermore, a Democratic victory in the Senate would make things easier on stimulus.

Joe Biden Government and Democratic Support

With the Democratic Party's victory in the U.S. Senate a few days ago, their path to the White House and the apparent dominance in Congress will happen in the near future. The market supported the Democratic victory because the party was considered easy to provide stimulus.

Recently, U.S. President-elect Joe Biden also gave a statement that financial support will soon be realized soon. It is especially after The American December employment data put additional pressure on policymakers to act.

If it is seen from the negative side of the risk, there is the latest spike in the number of people confirmed positive from the UK and US. Furthermore, lockdowns in London, Japan, and parts of Australia are also continuing. The same situation also happens in the United States.

Furthermore, fears of the spread of the virus and tensions between Chinese-Americans are an added burden on risk sentiment. Japan has become the latest country to discover new cases of coronavirus as found across the UK.

Business Momentum in America

Some time ago, many people highlighted the push to negatively affect Chinese businesses and equities. This is primarily driven by the US. It is known that the two countries often do have up and down relationships.

Recently, such efforts have been gaining momentum. In fact, it could be said that has prompted Goldman Sachs and Morgan Stanley to abandon some products from Hong Kong. This is one of the things that surprised many people.

In the middle of this game, S&P 500 Futures reported a decline of 0.12%. However, the AUD/USD currency pair recently welcomed the performance of Wall Street benchmarks and U.S. Treasury yields over a 10-year period.

Going forward, many expect China's main inflation figures, namely the Consumer Price Index (CPI) and producer price index (PPI) for December. It is hoped that it delivers developments of 0.1% and -0.8% versus -0.5% and -1.5% respectively in global markets.

Oil Prices Fall

The price of Brent crude oil reportedly fell as much as $1 a barrel on Monday. The decline was triggered by new concerns about global fuel demand. It is especially in the middle of Lockdown because of the coronavirus that is increasingly spreading in Europe.

New restrictions in China are also one of the causes. It is known that the country is the second-largest oil user in the world, where infections there continue to soar. Brent crude futures were down as much as 78 cents or about 1.4%.

Now, the price is $55.21 per barrel. Earlier, the commodity briefly fell $1 to a session low of $54.99. Elsewhere, Brent rose in the previous four sessions. U.S. West Texas Intermediate (WTI) also slumped 52 cents or 1%. WTI now touches $51.72 a barrel.

The COVID-19 fireball is like burning again in Asia. There are currently about 11 million people having to comply with lockdown rules in China's Hebei province. This coincides with a bit of uncertainty about Fed policy in which that situation triggers profit-taking.