IMF President said the global economy is in a cold winter
Georgieva, president of the International Monetary Fund (IMF), said that the new coronavirus epidemic has plunged the global economy into recession, and countries around the world must use very large resources to deal with the economic impact of the epidemic. In addition, it is more worried about emerging markets and developing countries. Due to the continuous loss of capital, it is expected that the countries concerned will need more than US $ 2.5 trillion in financial resources to recover from the impact of the epidemic. In the future, the IMF will focus on measures that can be completed quickly, including doubling the size of emergency loans to US $ 100 billion and establishing a new short-term liquidity tool.
Gold demand continues to increase
Last Friday, due to the largest fiscal stimulus in the history of the United States and the Bank of Canada ’s third month ’s cut in target interest rates to the lowest level in 10 years, gold fell by $ 20. Nonetheless, gold still recorded its biggest weekly increase since 2008, as market worries about the epidemic impacting the US economy have intensified. Last week, the gold ETF holdings increased by more than 55 tons, continuing to reach a new high since October 2016, this also highlights the continued increase in market demand for gold. This week, we will continue to pay attention to the progress of the US epidemic. At the same time, we need to continue to pay attention to the number of unemployment claims and the ISM manufacturing PMI data.
Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/
Service relating to Over-the-counter (OTC) Gold Bullion/Silver trading is provided by MOL. OTC Gold/Silver Bullion trading carries a high degree of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. OTC Gold/Silver Bullion is not regulated by the Securities and Futures Commission (""SFC"") and therefore trading OTC Gold/Silver Bullion will not be subject to rules or regulations promulgated by the SFC. Before deciding to trade OTC Gold/Silver Bullion you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain losses in excess of your deposited fund or even more in extreme circumstances and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading OTC Gold/Silver Bullion, and seek advice from an independent financial advisor if you require.