Review of EGU Price for the Past Week
The following is the daily gold price change of Everest Gold (from 1 December 2020 to 6 December 2020).
Statistics from the past six days showed that the EGU prices have risen by less than 1% on four days, increased by 1% to 2% on one of the days and the price increased between 2% to 3% in the remaining day.
Market News Recap
After hitting a low of USD 1,767 per ounce, gold rose to its highest in four weeks due to the weakened US dollar and gold’s appeal as an inflation hedge against a fresh US economic stimulus. Prices rose by 0.2% to USD 1,843.99 per ounce on Friday, and over 3% in the past week, as poor economic outlook continued to support gold in the short term.
Even though developments of COVID-19 vaccines have put pressure on gold, fears from the rising number of cases—along with a weaker greenback—have offset vaccine optimism. Analysts believe that if the economic situation continues to be dominated by uncertainty, gold may continue to be bullish in 2021.
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