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Record rise of the yellow metal . 03-08-2020

News Date: 3/8/2020 05:48:16
 

We begin the events of today with the rise he has known to gold, as a safe haven in light of economic fears and anxiety the world is living in, especially as the numbers of infection rates of Coronavirus continue to progress – 17.96 million global cases of death) which makes it a real source of concern ! Gold futures rose 0.3% to $ 1992.10 an ounce, which pushed the US dollar up and capped gains.

On the other hand, silver futures fell 0.5% to $ 24.26 an ounce.

 

Also, oil futures contracts declined due to fears of oversupply, so OPEC pursues a strategy to reduce production cuts in August this year, while continued and widespread casualties with Covid 19 tell us that the improvement in oil demand will be at a slow pace, as Brent crude contracts fell by 0. 6% down to the price of $ 43.25 a barrel, while the US crude contracts for West Texas Intermediate decreased by 0.8% to reach the price of $ 39.93 a barrel.

 

And due to the contraction in the economy that the Japanese factories knew, the Japanese stock indices were affected, as they recorded very clear losses, as the Japanese yen retreated from the height of four and a half months against the US dollar, as the Nikkei 225 index closed up by 2.24% to 22195.38 points, After losing 4.6% last week, while the Topix index increased by 1.78% to 1522.64 points.

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