Gold Crosses $2,000 While Ethereum Takes $400

gold price hourly candles august 4 2020

Gold is on a huge bull run and quite safely above all time high as it now surpasses $2,000. XAU has been up against USD since November 2018 but it’s this July that has seen an acceleration in its green. The reasons for this rise are now probably known. The dollar is rekt, down one point to 92 in its strength index. It has lost a bit to CNY as well, -1.7% to 6.93 as China’s economy shows a bit of growth. Yet: Floods in China are adding a bit more rek to its economy, with the cny weakening too as of course is the euro. Thus there haven’t been huge price movements between them, but huge amounts of debt have been taken by many governments that can’t afford it. The three superpowers, US, EU and China, will probably be fine and may even come out of this better with…

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