1 MONGOLIA’S SUCCESS AND CHALLENGES AGAINST COVID-19 WWW.EASTASIAFORUM.ORG PUBLISHED:2020/08/13      2 FIRST EVER RAILWAY BRIDGE CONNECTING RUSSIA & CHINA TO OPEN IN 2022 WWW.RT.COM PUBLISHED:2020/08/13      3 CABINET MEETING: SMALL, MEDIUM-SIZED ENTERPRISE DIRECTORATE ESTABLISHED WWW.MONTSAME.MN  PUBLISHED:2020/08/13      4 MAN DIES OF BUBONIC PLAGUE IN MONGOLIA WWW.CHANNELNEWSASIA.COM PUBLISHED:2020/08/13      5 MONGOLIA’S SUMO CHAMPIONS WWW.THEDIPLOMAT.COM PUBLISHED:2020/08/13      6 REGISTERED UNEMPLOYED DECREASED BY 0.9 PERCENT FROM JUNE WWW.MONTSAME.MN PUBLISHED:2020/08/13      7 GOVERNMENT DEBT ROSE BY 1.7 TIMES BETWEEN 2015-2019 WWW.MONTSAME.MN PUBLISHED:2020/08/13      8 RUSSIA HAS $1.5BN PLAN TO DENT CHINA’S RARE EARTH DOMINANCE WWW.MINING.COM PUBLISHED:2020/08/13      9 CHINA’S BOOMING COPPER IMPORTS AN ECHO OF THE LAST CRISIS WWW.MINING.COM PUBLISHED:2020/08/13      10 IOM FACILITATES RETURN OF 185 MONGOLIANS STRANDED IN CZECHIA WWW.RELIEFWEB.INT PUBLISHED:2020/08/12      ОЛОН УЛСЫН СТАНДАРТ ХАНГАСАН ХӨЛБӨМБӨГИЙН “TDB CENTER” ЦЭНГЭЛДЭХИЙН ШАВ ТАВИХ ЁСЛОЛ БОЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2020/08/14     ОРОСЫН КОМПАНИУДЫН АШИГ ЭРС БУУРЧ БАЙГААГ АНХААРУУЛАВ WWW.NEWS.MN  НИЙТЭЛСЭН:2020/08/14     ХЯТАД УЛС 2035 ОНООС ӨМНӨ ТӨМӨР ЗАМЫН УРТАА 200,000 КМ-ЭЭР СУНГАНА WWW.IKON.MN  НИЙТЭЛСЭН:2020/08/13     ЭКСПОРТ ӨМНӨХ САРААС 16.9 ХУВИАР ӨСЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2020/08/13     УУЛ УУРХАЙН БҮТЭЭГДЭХҮҮНИЙ ЭКСПОРТЫГ НЭМЭГДҮҮЛЭХ ТАЛААР ЯРИЛЦАВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/13     ДАВХАР БҮРТГЭЛТЭЙ ҮНЭТ ЦААСЫГ ГАДААД, ДОТООДОД ХӨРВҮҮЛЭХ БОЛОМЖТОЙ БОЛОВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/13     ЛОКАРНО КИНО НААДАМД МОНГОЛЫН УРАН БҮТЭЭЛЧИД ГУРВАН ШАГНАЛ ХҮРТЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/08/13     ОРОС УЛС ГАЗРЫН ХОВОР ЭЛЕМЕНТИЙН ҮЙЛДВЭРЛЭЛЭЭР ХЯТАД УЛСТАЙ ӨРСӨЛДӨХ ТӨЛӨВЛӨГӨӨГӨӨ ЗАРЛАЖЭЭ WWW.IKON.MN НИЙТЭЛСЭН:2020/08/13     БРОКЕР, ДИЛЕРИЙН КОМПАНИУД 67.6 ТЭРБУМ ТӨГРӨГИЙН АРИЛЖАА ХИЙЖЭЭ WWW.UNUUDUR.MN  НИЙТЭЛСЭН:2020/08/13     ОХУ 2 ДОЛОО ХОНОГИЙН ДОТОР ВАКЦИНАА ОЛНООР ҮЙЛВЭРЛЭЖ ЭХЭЛНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2020/08/13    

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