Gold is heading for a third weekly uptrend, taking refuge in concerns about the proliferation of the Covit-19 category and the prospect of a long-term Deutsche monetary policy.
Bullion is pulling back investors after a dark June, fearing the world’s exit from the epidemic could be more prosperous than expected. Renewed virus fears around the world are a boon to gold because they require governments to provide monetary support to even more vulnerable economies.
These risks were underlined this week by the Federal Reserve Minutes, which shed light on the continuing uncertainty in the U.S. on Thursday. Unemployment demands increased. China’s surprising indication is that it could unleash more cash flow into the economy and lead to a global recovery.
The Bank of Australia and the Bank of Australia (OTC: ANZBY) Ltd. “Demand for safe havens has increased following rising U.S. initial unemployment claims.”
Gold rose 0.2% to $ 1,807 an ounce in Shanghai at 10:49 a.m., gaining 2.1% so far this month. The gold will be very high for more than a close three weeks here.