Analyst: “Broadly speaking, little has changed for gold. It continues to consolidate around $1,700 per ounce and has done so for weeks. There’s little to suggest this is going to change in the near-term.”
With everything from depression to a sharpish recovery possible over the next six months, the language from Washington to Tokyo has included broad pledges of central bank support for years to come, but little precision about what will happen next or when.
Optimism over a potential recovery in economic growth as many countries starting to ease virus-driven lockdowns boosted investors’ sentiment towards riskier assets.
U.S. nonfarm payrolls data showed 20.5 million jobs lost in April, pushing the unemployment rate to 14.7% as people stayed home to halt the spread of the coronavirus.
Kashkari: “Long term I am absolutely bullish, but it may be a rocky journey. My recommendations for businesses is to plan for a long journey.”
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