EGU Monthly Report | Gold is expected to rise after the U.S. presidential election

Review of EGU Price for the Last Month

Statistics from the past 31 days showed that the EGU prices have risen by less than 1% on 24 days and increased by 1% to 2% across three days. Over two days, the price increased between 2% to 3%, while for the remaining days, the prices rose by more than 3%.

Market News Recap

Rising coronavirus infections and deaths are triggering stricter restrictions across Europe. However, the European Central Bank (ECB) has left its policy unchanged, causing the Euro to fall, the U.S. dollar to strengthen and thus, weakening the price of gold. Besides, gold prices have generally been on a downward trend due to the lack of progress on the U.S. new fiscal stimulus.

The U.S. presidential election remains the main focus of the market in recent weeks. Ole Hansen, head of the commodity strategy at Saxo Bank, believes that the outbreak would return to the spotlight after the election, and will help to drive up gold prices. He further elaborated that the U.S. presidential election is not the market-changing factor and therefore will not affect the gold investment fundamentals.

Download Our App Today:
App Store
Google Play Store

Click Here For More Information

Related Posts

EGU Weekly Digest | Gold rises despite global economic optimism, supported by weakening US dollar and Treasury yields

Review of EGU Price for the Past Week The following is the daily gold price change of Everest Gold (from 1 to 11 April 2021).  Statistics from the past…

EGU Monthly Report | Gold faces setbacks amid strong US dollar and yields, but analysts are hopeful for long-term gains

Review of EGU Price for the Last MonthStatistics from the past 31 days showed that the EGU prices have risen by less than 1% on 20 days…

EGU Weekly Digest | Gold heads for a second weekly rise but is pressured by US Treasury yields spike

Review of EGU Price for the Past Week The following is the daily gold price change of Everest Gold (from 15 to 21 March 2021).  Statistics…

EGU Weekly Digest | Gold recovers from slump but eases again on firmer US yields

Review of EGU Price for the Past Week The following is the daily gold price change of Everest Gold (from 8 to 14 March 2021).  Statistics from…

EGU Weekly Digest | Gold rebounds after a rocky start but soon sees pressure from rising yields

Review of EGU Price for the Past Week The following is the daily gold price change of Everest Gold (from 1 to 7 March 2021). Statistics from the past…

EGU Monthly Report | Anticipating a tsunami: As gold recedes dramatically, investors hold on for a recovery later this year

Review of EGU Price for the Last MonthStatistics from the past 28 days showed that the EGU prices have risen by less than 1% on 16 days and increased…