Posts tagged 'Gold'

The late Robert Mugabe has unexpectedly emerged as the intellectual powerhouse behind American economic thinking.

Trump’s Monetary Policy Mentor: America turns to Zimbabwe for guidance

Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down.

Asian stocks rose on Friday as investors wagered policymakers will roll out additional stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record.

Asian shares extended their rally on Wednesday in the wake of Wall Street's big gains as U.S. Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic's economic toll.

Gold prices rose on Friday after a fall in the previous session, but the metal was on track to post its second weekly drop due to a rush for cash amid the widening economic fallout from the coronavirus outbreak.

Gold prices rose on Thursday after a steep fall in the previous session, as the European Central Bank's measures to mitigate the economic effects of the coronavirus epidemic lifted investor sentiment.

Gold, the dollar and global equity markets rose on Tuesday after the Federal Reserve said it would buy short-term corporate debt directly from companies to help relieve credit markets under strain from the economic impact of the coronavirus epidemic.

Gold jumped on Tuesday as a five-session decline in the bullion market led bargain hunters out in force, with Federal Reserve's announcement to boost lending soothing market fears over a crunch in liquidity.

Gold fell as much as 2.7% on Wednesday as concerns over the global economic impact from the coronavirus outweighed stimulus measures by the United States, forcing investors to dump most assets for the safety of cash.

Gold tumbled 3% on Tuesday, while other precious metals also extended heavy losses from the previous session, as fears over the global economic toll from the fast-spreading coronavirus prompted investors to dump most assets and hoard cash.

World share markets and oil prices struggled on Tuesday after coronavirus panic caused Wall Street's worst one-day rout since the Black Monday crash of 1987.

In Europe, early 1.5.% to 3% gains in London, Frankfurt and Paris were quickly wiped out as airline and travel stocks suffered a 6.5% drubbing.

Several quick observations here. First, it is clear that the metals and miners have been tracking stocks lately. Both are waiting for the Fed and the U.S. Treasury to announce a combination of substantial monetary and fiscal stimulus. Basically, helicopter money.

Gold gained 1% on Friday but was still set for its worst week in more than three years after this week's wider market sell-off forced investors to sell bullion to cover margin calls.

Physical gold markets in major Asian hubs this week reeled from the impact of the coronavirus outbreak and dealers offered deeper discounts in top consumer China.

Palladium plunged more than 11% on Thursday, en route to its biggest daily drop since 2008, while gold slipped over 3% as the United States travel ban on Europe over virus spread drove jittery investors to liquidate assets across the board.