Forex Today: Gold Hits 7-Year High Price – 24 June 2020

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on June 24, 2020

Dr. Fauci warns of “disturbing surge” in new U.S. coronavirus cases

  • Stock markets are mixed and mostly consolidating, but recent rises are holding up.
  • Gold made a multi-year high closing price in New York yesterday at $1,770 per ounce.
  • WTI Crude Oil traded at a 3-month high above $40 per barrel yesterday after President Trump’s positive words about U.S./China trade relations.
  • Yesterday saw the second-highest daily tally of new confirmed coronavirus cases worldwide, following the WHO’s warning that the pandemic shows no sign of slowing and is moving into a potentially more dangerous phase.
  • In Forex, the Australian Dollar and the Euro are the strongest major currencies, while the Japanese Yen is the weakest right now.
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  • Coronavirus deaths globally are rising strongly again after earlier peaking on 18th April, especially in Mexico, Iraq, and Iran.
  • Coronavirus deaths in Latin America and the Caribbean are 48% of the global daily total, well exceeding those in both the U.S.A. (12%) and Europe (approx. 11%) which shows that the epicenter of the pandemic is in South America. African totals are beginning to rise noticeably.
  • Total confirmed new coronavirus cases stand at over 9.2 million with an average case fatality rate of 5.16%.
  • Brazil continues to see more daily deaths from coronavirus than any other country in the world.
  • The rate of new coronavirus infections appears to be increasing most quickly in Brazil, the U.S.A., India, Mexico, South Africa, Colombia, Argentina, Panama, the Philippines, Germany, Romania, Israel, Algeria and Bulgaria.

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