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Thursday morning saw the value of Gold gone up after U.S. Federal Reserve Chair Jerome Powell's speech had inspired gloom among investors, compelling them to turn to the precious metal.
Gold futures rose by 0.28% at $1,721.25 by 12:08 PM ET (5:08 AM GMT).
Powell's speech broadcasted on Wednesday warns of a seemingly worse U.S. Recession compared to what had resulted from the Second World War with COVID-19 placing global economy into dire straits.
Stocks, as it bears an inverse relationship with gold, had struggled yet again for aanother with recorded retreats on Thursday.
At present, investors are awaiting the yet to be released U.S. initial jobless claims.
To date, over 31 Million Americans have gone unemployed since March's end.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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 ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages. In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus ...
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