Fundamental analytics

Due to the lack of important economic news during the week, investors' focus was on geopolitical news and the situation with the spread of the COVID-19 pandemic.  

The recovery of the world economy is much slower than previously expected. New waves of the virus are limiting economic activity in many parts of the world.  

XAUUSD

Gold is on a slight decline on Friday after a continuous 5-day growth. At the same time, gold retains the opportunity to resume its upward movement due to continuing economic uncertainty and increased geopolitical risks.

This morning, the Chinese Foreign Ministry announced the closure of the US consulate in Chengdu. 

WTI

Oil prices are growing despite significant increases in US oil reserves.    

XAUUSD

Gold maintains an upward trend and is approaching $1900 per ounce.  

After the United States demanded that China close the consulate in Houston due to involvement in espionage

WTI

On Wednesday, oil prices are under pressure after the publication of API data on a sharp rise in US oil reserves.

XAUUSD

Strong decrease of USD pushed gold's value up to new 9-year maximums. Gold price tested the $1,865 mark this morning.    

Today, Australia published a retail sales report.