Gold price on hold
The last trading week has been eventful so far. The gold price showed significant fluctuations over the course of the week. At 3:45 p.m.(18.06.20) this afternoon, the troy ounce of gold on the spot market was $ 1,275 (+ 0.00% from the previous day). This corresponded to 1,536 euros (+0.05%). The silver price, on the other hand, rose by more than 1.5 percent to $ 17.40.
US economic data repeatedly brightened the mood on the sportily valued stock markets. For example, there was news that US retail sales recovered more than expected in May. The Phili-Fed index published today also signaled that the economic mood in the manufacturing industry has recently brightened. At 27.5 points, the index performed significantly better than the -23 points expected by analysts.
However, the corona pandemic continues to be a major burden, especially as the number of infections in individual US states such as Florida and Texas has risen again significantly. On last Friday evening tomorrow, Fed chief Jerome Powell will once again step in front of the webcam. When the central banker last commented on the current situation, the stock markets came under pressure again and again and the gold price tended to benefit. If the coming economic data once again disappoint analysts’ expectations, the stock markets could turn down even more. The gold price, on the other hand, should benefit from a return of many investors to more defensive forms of investment.