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Gold exceeded the $2,000/ounce threshold -Tuesday Review, August 4

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Wall Street rallied. Gold made history

The US

Investors are keeping an eye on another stimulus package, and their optimism led the benchmarks higher. USA30 rose 0.62%, while USA500 gained 0.36%. TECH100 climbed 0.35%.

Oil eased 0.5% to $40.79 per barrel, while Brent fell 0.6% to $43.90 a barrel as investors fear the new wave of infections will affect demand. 

Gold made history yesterday, as it traded at more than $2,000 per ounce. After it rallied 1.8%, it settled at $2,001 an ounce. It had a peak of $2,014.15 during yesterday's trading session.  

The Dollar Index lost 0.2% and settled at 93.387.


Asia and Australia

Moved by the positive data from the US, Asian markets inched higher. Japan225 rose by 1.34%. 

HongKong45 added 0.80% even though the Sino-US tensions are heating up after President Trump announced the possible acquisition of TikTok by Microsoft. 

Australia200 jumped 1.65% as investors expect the Reserve Bank of Australia's policy decision.  

USD/JPY lost 0.04% to 105.90.


Europe

The European benchmarks traded lower as BP, Bayer, and Diageo posted disappointing earnings reports. Europe50 lost 0.6%. UK100 was down 0.7%.

Germany30 slipped 0.36%. 

EUR/USD pair rose 0.2% to $1.17885.

EUR/GBP went higher 0.24% to 0.9016.

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Sources: marketwatch.com, investing.com

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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.