EGU Weekly Digest | Gold prices expected to hit a record high in future

1) Review of EGU Price Change 

The following is the daily gold price change of Everest Gold (from 24 August 2020 until 30 August 2020).

According to the statistics for the last 7 days, EGU prices have increased by 1% to 2% on one of the days. Over the span of 3 days, the price increased between 2% to 3%. In the remaining days, the price rose to more than 3%. Statistics have shown that if the user trades on our platform with a fixed amount of 2,000 EGU each time, the capital will be about USD 1,306 and the accumulated revenue will amount to USD 242 in 7 days. This means that the user is able to achieve a return on investment of 18.53% ideally! Seize more trading opportunities and earn higher return on investment.

2) Review of Market News

Last week, the international gold price trend was mainly affected by the changes to the Federal’s Monetary Policy Framework as announced by Federal Reserve Chairman Jerome Powell. According to the speech’s content published on Thursday, the Federal will adjust its strategy to increase tolerance for high inflation which has led to large fluctuations in gold prices. On Friday, the news of Japanese Prime Minister Shinzo Abe’s resignation caused yen to strengthen and the U.S. dollar to weaken. In addition, gold price rebound from Thursday’s decline. In conclusion, due to the global economic recession and the uncertainty surrounding the U.S. election, the price of gold is expected to hit a record high by the end of the year.

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