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The Gold (en) days are over - Tuesday Review, August 11

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
A possible steady economic recovery made most markets move positively

The US

Investors lost hope in an economic recovery as the Congress members didn’t reach a consensus regarding the new stimulus package. USA30 fell 0.37%, while USA500 lost 0.79%. TECH100 shed 1.69%. 

Yesterday Gold lost 5.35% and settled at $1,921.65 per ounce, marking its most significant drop in seven years. 

Oil rose 0.38% to $41.77 per barrel, while Brent added 0.52% and settled at $44.73. 


Asia and Australia

The Asian markets were up yesterday, as the Chinese National Bureau of Statistics reported that the consumer price index gained 2.7%. HongKong45 jumped by 2.24%.

Japan225 rose 1.88%.

Australia200 rose 1%.

USD/JPY gained 0.22% to 106.19.


Europe

European markets were moved by the positive data received from China. From the investors' point of view, a steady economic recovery is in sight. Europe50 rose 1.6%.

UK100 climbed 1.8% even though in three months, 220,000 people lost their jobs due to the pandemic. It is the most significant quarterly drop since 2009.  

Germany30 gained 2.04%.

EUR/USD added 0.22% to 1.1762.

EUR/GBP was up 0.13% to 0.8989.

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Sources: reuters.com, investing.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.