EGU Weekly Digest | Worsening COVID-19 pandemic in the U.S. boosted gold prices

Review of EGU Price for the Past Week

The following is the daily gold price change of Everest Gold (from 9 November 2020 to 15 November 2020).

Statistics from the past seven days showed that the EGU prices have risen by less than 1% on four days and increased by 1% to 2%  across two days. For the remaining days, the prices rose by more than 2%.

Market News Recap

Gold hit a one-week high on Monday (16 November) as the greenback weakened amid a surge in the number of people diagnosed with COVID-19 in the U.S. Meanwhile, analysts have expressed that the global economy has been badly hit since the outbreak. As a result, the expectations of government stimulus are high, and gold, which usually benefits from central bank stimulus, is expected to move higher in the short term.

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