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Gold gains more than 1% against the US dollar

Gold gains more than 1% against the US dollar

Information is not investment advice

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Midday Market View

European equities gained along with US equity futures as earnings results from American tech names have changed the negative sentiment. Although there is a risk of a second wave of COVID-19 which likely will put downward pressure on rates, however, risky assets are supported by fiscal and monetary stimulus.

Amazon, Apple and Facebook are rising on pre-market after stellar quarterly results.

Treasury yields slightly lower, while the dollar is little changed against both the EUR and the Yen.

Midday Key Point

  • Gold gains more than 1% against the US dollar and currently trading at 1976. Intraday it reached up to 1980 which is a new record for the precious metal.
  • GDP data from Canada is due.
  • Chicago PMI also out at 15:45 CET today.

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