EGU Weekly Digest | Gold prices will continue to fluctuate amid U.S. new fiscal stimulus

Review of EGU Price for the Past Week

The following is the daily gold price change of Everest Gold (from 1 October 2020 until 11 October 2020).

According to the statistics for the past 11 days, EGU prices have risen by less than 1%. These statistics show that if the user trades on our platform with a fixed amount of 2,000 EGU each time, the capital will be approximately USD 1,304.20 and the accumulated profit will amount to USD 53.40 in 11 days. The user will thus be able to achieve an ideal return on investment of 4%. Therefore, seizing more trading opportunities will allow a higher return on investment.

Market News Recap

The U.S. presidential election is the most significant risk faced by the markets right now. On 9 October, Friday, the White House delivered a USD 1.8 trillion stimulus proposal. However, this proposal collided with the economic inclinations of the Republicans. As a result, gold prices may face the risk of a correction in the short term.

Some analysts believe that an agreement on a stimulus proposal would be beneficial to the gold prices. Conversely, if the deal falls through, gold prices may fall again. However, the Federal Reserve’s low-interest rates and monetary easing policies will continue to support gold prices and remain positive in the long run.

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