Financial News
Written by: Zhang Weilun
2020-07-08 09:53
Date of last update: 2020-07-08 09:54The new coronary pneumonia epidemic appears to be showing signs of deteriorating again, and investors are depositing their funds in gold for hedging. Even though the price of gold fell slightly during Asian trading hours this morning, New York gold futures are still at $1,800 per ounce.
New York gold futures reported US$1,806.1 per ounce, down US$3.8 or 0.2%, and spot gold last reported US$1,794.68, down 0.01%. New York silver futures were reported at US$18.64 per ounce, down 0.34%.
Regarding the prospects for gold prices, Ed Moya, senior strategist at OANDA, pointed out that the epidemic has worsened and the economic prospects are unclear. It does not rule out that the United States will introduce further economic stimulus measures. It is expected that gold prices will have the opportunity to challenge $1,850.
The strong performance of gold prices drove gold mining stocks to continue to rise, Zhaojin (1818) rose 2.7%, the latest report was 9.83 yuan, Shandong Gold (1787) rose 6.1%, the latest report was 19.14 yuan, China Gold (2099) rose 3.7%, the latest report 5.04 yuan.
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