Gold Maintains Its Place at the Summit of the Last Years

Gold Maintains Its Place at the Summit of the Last Years

In the coronavirus pandemic, the number of cases in the USA exceeded 2 million, while a rapid increase was observed in Brazil, Mexico and India. Although economic indicators, incentives and loans are at positive pricing in the markets, possible second wave concerns causes an increase in gold prices. Reaching the peak of 8 years, rising to $ 1,790 the previous week, the ounce price retreat remained at $ 1,750, remaining at $ 1,770, despite positive US data. Seeing the top $ 1,780 level in the new week, the price took its place at the peak of 8 years. World Health Organization, IMF and other organizations point out that the risk continues in the epidemic, but the markets believe that the second wave will bring life to a halt, as in April, due to the continuing economic efforts. The reason for this idea was that all officials, especially the President of the USA, stated that there would be no implementation regarding this effect. Even though the shares continue to rise, the cautious stance continues to support and the price is at the top of the last period. With the horizontal position of the dollar exchange rate over 6.85 and the movement in ounce, it is protected over 390 TL per gram.