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Gold, supported by the spread of the Corona pandemic: 10-08-2020

News Date: 10/8/2020 06:39:36
 

Gold regained its strength again after it concluded last week with losses, due to the repercussions of the Corona virus, which doubled concerns about gold : considered the first safe haven for investors. as the gold futures contracts rose by 0.53%, to be traded at a price of 2028.7 dollars Per ounce.

In light of the losses incurred by gold at the end of last week, the dollar was maintaining its high level amid the data produced by the monthly unemployment report, and the report confirmed that the US economy had added 1.763 million non-farm jobs during the month of July, down from 4,791 Million, while analysts expected an addition of 1.60 million jobs.

The development and spread of the Corona pandemic is still a strong source of support for gold, as, based on analysts’ expectations, the rise in cases of the virus and its increase in its spread will increase the demand for gold.

 

 Japanese stocks fell today, Monday, as the Nikkei 225 index recorded a decline of 0.39%, nearly 88.21 points, to close at 22,329, while the broader Topix index ended down 0.220 to the level of 1,546.

 

With the outbreak of tension between America and China, US President Donald Trump announced the decision to impose sanctions against the Executive Governor in Hong Kong, Carrie Lam, in addition to 10 other officials, and US Treasury Secretary Stephen Mnuchin added that the sanctions target those who undermine the autonomy in Hong Kong. Kong, including President Carrie Lam.

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