Forex Today: Gold Hits 7-Year High Price

Adam Lemon

Dr. Fauci warns of “disturbing surge” in new U.S. coronavirus cases

  • Stock markets are mixed and mostly consolidating, but recent rises are holding up.
  • Gold made a multi-year high closing price in New York yesterday at $1,770 per ounce.
  • WTI Crude Oil traded at a 3-month high above $40 per barrel yesterday after President Trump’s positive words about U.S./China trade relations.
  • Yesterday saw the second-highest daily tally of new confirmed coronavirus cases worldwide, following the WHO’s warning that the pandemic shows no sign of slowing and is moving into a potentially more dangerous phase.
  • In Forex, the Australian Dollar and the Euro are the strongest major currencies, while the Japanese Yen is the weakest right now.

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  • Coronavirus deaths globally are rising strongly again after earlier peaking on 18th April, especially in Mexico, Iraq, and Iran.
  • Coronavirus deaths in Latin America and the Caribbean are 48% of the global daily total, well exceeding those in both the U.S.A. (12%) and Europe (approx. 11%) which shows that the epicenter of the pandemic is in South America. African totals are beginning to rise noticeably.
  • Total confirmed new coronavirus cases stand at over 9.2 million with an average case fatality rate of 5.16%.
  • Brazil continues to see more daily deaths from coronavirus than any other country in the world.
  • The rate of new coronavirus infections appears to be increasing most quickly in Brazil, the U.S.A., India, Mexico, South Africa, Colombia, Argentina, Panama, the Philippines, Germany, Romania, Israel, Algeria and Bulgaria.
About the Author
Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.
Learn more from Adam in his free lessons at FX Academy

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