GOLD at two weeks' height thanks to viral fears.
- by George Solotarov
Despite recent news that some countries intend to take additional fiscal stimulus measures to protect the economic system from the effects of the virus, the cost of gold is at its highest level since February 3. The number of CoVid-19 cases in the world continues to grow despite the slowdown, and investors are trying to assess whether the fiscal measures will be sufficient to maintain the momentum of global economic growth.
According to the latest CFTC data, stock exchange funds (ETFs) reached a record five weeks of earnings, according to a Bloomberg report, while speculative investors were net buyers of gold in the week until February 11.
Currently, gold quotes are seeking to update the maximum on February 3 at 1,592, on the background that the 55-day moving average rose to 1,532.90.