Uncertainty remains in the world in many areas of economic activity. The price of gold receives support to continue the price rally. Precious metal is traded at levels that until this moment were observed only in 2013. The value in euros again sets new records.
This morning, one ounce of gold was traded on the spot market at around $ 1,581 per ounce, which corresponds to 1,435 euros. In both currencies, the precious metal has reached new historical values. Silver was trading at $ 18.21 per ounce (16.54 euros). On the stock markets, on the contrary, there has been a downward trend.
The situation with the coronovirus in China has a negative impact on the stock market. Experts find it difficult to say how much this will affect the Chinese economy. The month of January again became positive for the price of gold, which once again confirmed many-year statistics. What should investors expect in the coming weeks? Will the gold price rally continue or will consolidation take place?
This week will be a meeting of the US Federal Reserve. On Wednesday, the decision of the Federal Reserve on rates will become known. On Thursday, data on economic growth in the United States will be published. On Friday, Eurozone GDP figures will be announced. Also, all experts closely monitor the situation around the impeachment of Donald trump.