Stocks, Gold Price, Oil Price: After the US job market data the corona data came

Initially, the stock markets, Gold and Oil prices were performing exemplary. The US job market data (here in detail) reported more jobs created (4.8 million instead of 3 expected). And bang, up went the stock prices. The Dow Jones rose by 250 points, the Dax by 170 points. The Oil price was able to increase by 60 cents. The price of Gold lost from 1,772 Dollars to a low of 1,757 Dollars as early as 2 pm. But then. So far, the Gold price has managed a sensationally fast turnaround, and is even rising to currently 1,777 Dollars! The reason for this is the corona infection figures that were reported earlier from the US state of Florida. The data are dramatic with 10,109 new cases in just one day.

This immediately fuels the fear of more restrictions in everyday life in the USA. This would result in economic slumps. And bang, as we said, the uncertainty causes the price of Gold to jump. At -200 points, the Dow Jones immediately lost almost all the gains it was able to make thanks to the US job market data. The Dax is holding up somewhat more robustly.

New lockdown?

The WTI Oil price is currently quoted at 39.96 Dollars, even 4 cents below the level before the US job market data. It can go that fast. There could still be one or two significant price developments in the US this afternoon, because the US will close everything today, as the US Independence Day is being celebrated on Saturday. So hold on tight, in a moment there could still be significant price movements in the USA.

Chart zeigt Goldpreis in Relation zum Dow 30 auf CFD-Basis

The chart shows in blue the Gold price against the Dow Jones on CFD basis in red-green. From the middle of the chart, the events described above started at 2:30 pm.

Please follow and like us:

Be the first to comment

Leave a Reply

Your email address will not be published.


*