Market Update

Gold prices settled higher on Monday, with the trading week beginning with an increased demand for safe havens as the number of COVID-19 cases continue to increase in the US and the world. Gold futures for August delivery increased by 0.4% and settled at $1,817.40 per ounce. Meanwhile, silver futures …

The European stocks rose on Monday, supported by positive reports about COVID-19 vaccine trials, with the market anticipating the European Union (EU) talks about an economic stimulus package with a total size of EUR 750 million. The pan-European STOXX Europe 600 index gained 0.74% to settle at 375.45. French index …

Silver prices rose to their level in roughly four years, after exceeding the $20 per ounce mark for the first time since September 2016. Rising demand on safe have, which has been driving recent increase in gold prices has also led to the appreciation of the white metal prices. Silver …

Silvana Tenreyro, member of the Bank of England’s (BoE) Monetary Policy Committee (MPC) has ruled out lowering interest rates soon, saying that lower rates will not necessarily lead to increased consumer spending. Tenreyro said that there remains significant uncertainty about the economy’s outlook. In her remarks earlier today, the MPC …

The Bank of England (BoE) could consider lowering the cost of borrowing, the bank’s Chief Economist, Andy Haldane, said on Monday. The move could come as a way of adapting to a possible economic shock due to the COVID-19 crisis. “Roughly half of the roughly 25% fall in activity during …

The New York Stock Exchange (NYSE) opened Monday’s trading with a mixed performance, with fears regarding the rising number of COVID-19 cases in the United States continuing to impact the market. The Dow Jones Industrial Average is currently down by 0.25%, while the S&P 500 is up by 0.27%. Meanwhile, …

Bitcoin resumed its decline during European hours to test $ 9,133 while the crucial support at $ 9000 remains intact. At the time of writing, Bitcoin was trading at $ 9155, however, if it continues to gain bearish momentum it may retest the mentioned support area during American hours. Loose …

Spanish Prime Minister Pedro Sanchez said on Monday that he hopes that EU leaders will agree on a recovery plan in the coming hours.  “Reaching EU agreement will require empathy, dialogue and determination,” Sanchez said. European leaders will resume talks again later at 1400 GMT today, extending the summit in …

After extending talks in Brussels to the fourth day, EU leaders are inching closer to a 1.8T Euro stimulus package in light of the economic damage caused by the coronavirus pandemic. French Finance Minister Bruno Le Maire said on Monday an agreement on a recovery plan at the European Council …

US stocks set to open mixed on negative headlines over the weekend about the spread of Covid-19. Cases continued to increase in Florida, reaching more than 10,000 new cases on Sunday, while Los Angeles Mayor said the city was “on the brink” of imposing new strict measures to prevent the …