EGU Weekly Digest | Gold has risen 25% so far this year

Review of EGU Price for the Past Week

The following is the daily gold price change of Everest Gold (from 12 October 2020 until 18 October 2020).

Statistics from the past seven days showed that the EGU prices have risen by less than 1% on three days and increased by 1% to 2% on two other days. For the remaining days, the prices increased between 2% to 3%. This means that if the user trades on our platform with a fixed amount of 2,000 EGU each time, the capital will be about USD 1,273.40, and the accumulated revenue will amount to USD 122.20 in seven days. Thus, the user will be able to achieve an ideal return on investment of 10%! Seize more trading opportunities and earn a higher return on investment.

Market News Recap

The U.S. new fiscal stimulus and the presidential election are the main factors affecting the gold trend at this stage. International gold prices have been hovering around USD 1,900 an ounce for most of October due to the U.S. dollar’s strength, but analysts expect a rebound in the coming weeks.

There will be more volatility and uncertainty in global financial markets and metal markets in the short term. However, according to statistics, gold has risen about 25% so far this year. Buoyed by the unprecedented global levels of stimulus, gold has given full play to its value as a hedge against inflation and currency debasement. Coupled with the massive fiscal spending and ultra-low interest rates, this will continue to provide tremendous support for the gold price.

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