The rising unemployment rate is something to be concerned about. As of right now, that rate sits at 4.4%, beating expectations, but not for the right reasons.
Finding countries and governments willing to introduce the gold standard again will not happen overnight. It is a very controversial decision to make, as it would seriously hamper any power the central banks may have.
Despite the prominent gold price momentum in India, it would appear that the rest of the world doesn’t share this optimism. According to most charts, the gold price is likely to go down slightly, rather than move up.
The reason for this uneasy situation is not difficult to determine. When the coronavirus broke out, all malls had to close down until further notice.
The coronavirus is, in that particular regard, a welcome gift for most governments. As cash is now considered to be a “carrier” of the virus, stores are less eager to accept it as a form of payment.
he European Parliament is willing to lend a helping hand in this regard. Earlier this week, two packages of financial support were approved.
It is a far bigger gain than most people had anticipated. Long-term traders and holders will be pleased with the current market momentum.
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