Speaker of the House of Representatives of the US Congress Nancy Pelosi during a meeting with her Democratic party members said that the country needs a fourth portion of fiscal incentives, the amount of which should be at least $ 1 trillion. In particular, she spoke out in favor of additional direct payments to the population, expansion of insurance for the unemployed, allocation of additional funds for food stamps and loans to small businesses. Pelosi also expressed the hope that such a plan would be agreed and approved by lawmakers before the end of the month.
This statement provoked a sharp increase in gold and the spot price reached 1674 and the June futures 1742.
The analytical department of the FortFS broker believes that amid the coronavirus pandemic, economic turmoil and the huge volume of bonds with negative returns, a further increase in the value of gold is inevitable, given the tendency of governments to increase fiscal and monetary stimulus. FortFS believes that in the perspective of the second quarter, gold will be in the region of 1700 and in the future 12 months may reach $ 2000 per ounce.