• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Commodities

Gold maintains key support level as investors adopt a wait-and-see attitude

Olumide Adesina by Olumide Adesina
July 20, 2020
in Commodities
Gold surges, Joe biden
Share on FacebookShare on TwitterShare on Linkedin

Gold prices began the trading week on a fairly flat note, barely moving lower despite the continued rise in the number of COVID-19 cases around the globe.

Gold futures dropped slightly lower to trade at $1,808.65, losing about 0.07% at the time this report was drafted.

Global Investors seem to be taking a wait-and-see attitude to how global fiscal players deal with the ongoing spread of one of the worst human pandemic recorded, as well as the possible new stimulus in emerged markets.

RelatedStories

Gold

Gold hits record $3,500 as investors drop dollar amid fed controversy 

April 22, 2025
Gold

Gold breaks $3,300 mark, increases over 26% so far in 2025 amid weakened dollar and trade squabbles 

April 17, 2025

Get research data from Nairametrics on Nairalytics

Stephen Innes, Chief Global Market Strategist at AxiCorp in a note to Nairametrics explained in detail, the macros coming from the world’s largest economy with support the price of gold above the $1,800 levels. He said:

“The University of Michigan consumer sentiment index fell in July, down 4.9pts to 73.2, which is weaker than expected amid the “widespread resurgence” of COVID-19. The outturn has unwound all of the gain seen in June for headline sentiment and takes the expectations component back towards its May low.

“When coupled with the recent stickiness of jobless claims, the Michigan survey suggests some risk that the positive data surprises that dominated through June might have hit a brick wall.”

READ: Global stocks records astronomical gains in Q2 2020

Quick Fact: It should be noted that the precious metal typically moves in the opposite direction from global stock markets, especially the American and European stock market. Humans are emotionally and physically drawn to gold. It provides a significant store of value. Global Investors buy gold mainly to hedge against inflation.


Follow us for Breaking News and Market Intelligence.
Tags: Business NewsCovid-19GoldGold prices
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

Related Posts

Gold
Commodities

Gold hits record $3,500 as investors drop dollar amid fed controversy 

April 22, 2025
Gold
Commodities

Gold breaks $3,300 mark, increases over 26% so far in 2025 amid weakened dollar and trade squabbles 

April 17, 2025
Gold
Commodities

Gold acts as investors refuge, best quarter since 1986

March 28, 2025
Gold
Commodities

Gold crosses $3k for the first time amid trade tensions and rate cut speculations

March 14, 2025
Gold
Commodities

Gold on a rampage for 7th straight week

February 14, 2025
U.S. President’s trade tariff threat increases Bitcoin,Gold appeal
Commodities

Gold hit a new high, Bitcoin falls below $100K again 

February 5, 2025
Next Post
WHO vaccinations, Novavax secures $1.6 billion funding for covid-19 vaccine production

Covid-19: WHO to start widespread vaccination mid next year

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Wedex 2025—One day, one house, one goal
  • Onga ignites African culture and storytelling at AMVCA 2025 Culture Day with festival of flavours 
  • Anambra Govt acquires land in Aguata, Orumba for new industrial city 

Follow us on social media:

Recent News

Wedex 2025—One day, one house, one goal

Wedex 2025—One day, one house, one goal

June 12, 2025
Onga ignites African culture and storytelling at AMVCA 2025 Culture Day with festival of flavours 

Onga ignites African culture and storytelling at AMVCA 2025 Culture Day with festival of flavours 

June 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics