Gold prices rose on Tuesday. The slowdown in economic growth caused an increased demand for defensive assets. The IMF lowered its growth forecasts for China and the EU. The destabilization of the world economy can continue if the trade conflict between China and the United States does not come to an end. World economic news has sparked investor interest in traditional assets like gold. However, metal prices will not rise too quickly due to the appreciation of the US dollar. The value of the dollar has been close to the maximum for three weeks already. An increase in dollar quotes to other currencies may adversely affect the cost of raw materials that are traded in dollars. Its price may be inflated for holders of other currencies.
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 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
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 ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...