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Gold is, (once again) back

Gold is, (once again) back
04/06/2019

Gold has been on the rise for a few days.

The increase in the factors of tension in the market has boosted the gold value. In fact, the ounce of gold in dollars went from 1277 USD (30/05/19) to 1328 USD in just 5 days.

This 4% increase is due to Trump's statements on the Brexit, his position on the trade war he is waging against China and the poor stock market results this weekend. In addition, the figures released recently augur a rate cut soon which would be good for gold.

This explains the weakening of the dollar against the Euro. EURUSD fell from 1.1124 to 1.1260 over the same 5-day period. The euro has also strengthened against all currencies. This rise in the EURUSD has therefore logically impacted the performance of gold in Euro. We must therefore count a 3% increase if we look at the value of the ounce of gold in EUR. It‘was around 1180EUR this morning.