1 RUSSIA PROPOSES $20 BILLION IN NEW INVESTMENT PROJECTS WITH CHINA WWW.RT.COM PUBLISHED:2020/08/03      2 U.S. ELECTION WILL BE NOV. 3 AS PLANNED, TRUMP ADVISERS SAY WWW.REUTERS.COM PUBLISHED:2020/08/03      3 MONGOLIA REPORTS TWO NEW COVID-19 CASES WWW.XINHUANET.COM PUBLISHED:2020/08/03      4 “GREEN GATEWAY” TEMPORARY REGULATION COMES INTO EFFECT FROM AUGUST 1 WWW.MONTSAME.MN PUBLISHED:2020/08/03      5 MONGOLIA TO ENJOY TARIFF DISCOUNT ON 10 THOUSAND TYPES OF PRODUCTS BY JOINING APTA WWW.MONTSAME.MN PUBLISHED:2020/08/03      6 MONGOLIA TO DELIVER 30 THOUSAND SHEEP TO CHINA FROM SEPTEMBER WWW.NEWS.MN PUBLISHED:2020/08/03      7 62-YEAR-OLD MONGOLIAN DIES ON CHARTER FLIGHT FROM SYDNEY WWW.NEWS.MN PUBLISHED:2020/08/03      8 RUSSIAN BILLIONAIRE ABRAMOVICH SELLS OUT IN $1.4BN GOLD DEAL WWW.MINING.COM PUBLISHED:2020/08/03      9 CHINA'S FACTORY ACTIVITY BEATS EXPECTATIONS IN JULY, EXPANDS FOR FIFTH MONTH: OFFICIAL PMI WWW.REUTERS.COM PUBLISHED:2020/07/31      10 DENISON MINES AWARDED $10M PLUS INTEREST IN MONGOLIA SALE ARBITRATION WWW.MININGWEEKLY.COM PUBLISHED:2020/07/31      БНХАУ РУУ 3000 ТОНН АДУУНЫ МАХ ЭКСПОРТОЛЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2020/08/02     УБТЗ 16.9 САЯ ТОНН АЧАА ТЭЭВЭРЛЭСЭН АМЖИЛТААР ТӨМӨР ЗАМЧДЫН БАЯРАА УГТЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/02     ИПОТЕКИЙН ЗЭЭЛИЙН ДУНДАЖ ХҮҮ 1.1, ХАДГАЛАМЖИЙНХ 0.6 НЭГЖ ХУВИАР БУУРЧЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2020/08/02     ГАДААДЫН ЗЭЭЛ, ТУСЛАМЖИЙГ АЙЛ ӨРХ, ААН, БАЙГУУЛЛАГАД ЗАРЦУУЛЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/02     БНХАУ 600 САЯ ЮАНИЙН БУЦАЛТГҮЙ ТУСЛАМЖ ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/02     БНХАУ-Д ТУСЛАМЖ БОЛГОН ӨГӨХ 30 МЯНГАН ХОНИЙГ ЕСДҮГЭЭР САРААС ЭХЛЭН ГАРГАХААР ЯРИЛЦЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2020/08/02     МОНГОЛД ДАРХАНЫ ЗАМ, ШИНЭ ТӨВ ЦЭВЭРЛЭХ БАЙГУУЛАМЖ ЗЭРЭГ ТОМООХОН ТӨСӨЛД АЖИЛЛАХААР 190 ГАДААД АЖИЛТАН ИРЖЭЭ EAGLE.MN НИЙТЭЛСЭН:2020/08/02     ЦАХИЛГААН ЭРЧИМ ХҮЧНИЙ ХЭРЭГЛЭЭ 7.8 ХУВИАР БУУРЧЭЭ WWW.EAGLE.MN  НИЙТЭЛСЭН:2020/08/02     МОНГОЛЫН ХӨРӨНГИЙН БИРЖ 404 САЯ ТӨГРӨГИЙН АЛДАГДАЛ ХҮЛЭЭЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2020/07/30     АЗИЙН ХӨГЖЛИЙН БАНК МАЛЧДАД ЧИГЛЭСЭН ТӨСӨЛ ХӨТӨЛБӨРӨӨ ҮРГЭЛЖҮҮЛНЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2020/07/30    

Covid-19 crisis pushing gold price to all-time highs www.rt.com

Gold has extended its rally with prices reaching their highest level in more than nine years this week. The precious metal has been doing very well lately as investors are clamoring for safe haven assets amid market volatility.
Gold surged above $1,800 on Tuesday, closing above that key resistance level. This is its highest value since 2011, and the second attempt to trade and close above $1,800 over the last month. The metal was trading up 0.2 percent on Wednesday, at $1,799 per ounce.

“It’s logical to expect gold to outperform most assets in an environment of unparalleled central-bank easing, and we foresee the precious metal maintaining the upper hand in most scenarios,” Bloomberg Intelligence senior commodity strategist Mike McGlone wrote.

According to him, slow economic recovery is going to put pressure on commodities, except for gold, which will head to its record high of $1,900 an ounce. “Depression-like global conditions should press the BCOM [Bloomberg Commodity Index – Ed.] below the 2016 trough and gold above its all-time high, about $1,900 an ounce,” he said.

Gold has been trading above its new base level of $1,700 an ounce since mid-April. “Every day that passes above this level builds a firmer base for the metal to make the next move in its stair-step rally,” McGlone said.

“The coronavirus is creating almost perfect conditions for commodity price deflation, central-bank easing and rising gold prices… Gold stands to be a primary beneficiary.”

The strategist added that, “Enduring US-China trade tension and an unlikely V-shaped global economic recovery keep our price view as unfavorable for broad commodities and favorable for gold. We see little to prevent the metal from reaching all-time highs and the Bloomberg Commodity Spot Index from extending its 2016 low.”



Published Date:2020-07-09