Citigroup analysts believe that in the coming year, the price of gold could reach $1,600 per troy ounce if the US Federal Reserve reduces the base interest rate to zero and resumes the asset-buying program. On Friday, in the course of trading, gold rose in price to 1 thousand 411.63 dollars per troy ounce. The mark of 1 thousand 400 dollars was exceeded for the first time since September 2013. Demand for gold, as a defensive asset, rose at the end of last week amid increased tension in the Middle East caused by the incident with the US drone shot down by Iranian forces.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...