(22 JULY 2020)DAILY MARKET BRIEF 2:US Lawmakers Can’t Agree on Fresh Stimulus

<p>In the commodity market, gold is getting closer to record highs as investors are embracing safe-havens amid US stimulus uncertainty and an increasing number of COVID cases. Gold futures have increased by 0.78% to $1,858, hitting the highest level in nine years and approaching the record peak. The Sino-US tensions also make a good case for buying gold. The relationship between the world’s two largest economies is getting from bad to worse. Yesterday, the US Justice Department said that China funded hackers who targeted labs working on coronavirus vaccines. Silver continues to rally as well, reaching the highest level in seven years after gaining over 6% on Tuesday. The white metal has surged about 15% since the weekend. Oil is declining on Wednesday, after rallying yesterday. The American Petroleum Institute (API) reported an unexpected increase in inventories of 7.544 million barrels for the week. The sentiment is also suppressed by a surging number of COVID cases and related deaths in</p>