The spot price of gold rose yesterday to $ 1,673 per ounce, which corresponds to 1,530 euros. The cost of silver rose to $ 15.28 per ounce (13.94 euros). The consequences of the spread of the virus in many countries are now in the center of attention of all economic news. It is clear that money does not play any role in the fight against the epidemic.
As it became known, the US Federal Reserve adopted a new program to support the US economy. The Federal Reserve is ready to provide loans in the amount of 2.3 trillion. dollars. At the same time, $ 600 billion will go to support small and medium-sized enterprises, and $ 500 billion will be allocated to states to overcome the economic crisis.
Recently published data on unemployment in the United States. It follows from them that over the past three weeks more than 16 million applications for unemployment benefits have been submitted. Consumer confidence fell 71 points - it is stronger than forecasts, reaching the worst value since December 2011.
Already, everyone understands that the crisis will be overcome by printing new money. Financial authorities are no longer afraid to exceed established limits. In the face of devaluation of paper money, the price of gold will receive additional support to continue the upward trend.