Gold quotations declined to July, approaching $1.8 k/oz. This is happening against a backdrop of reduced investment by institutional investors. In particular, total gold ETF assets fell to a three-month low of 3.39 thousand tonnes at the beginning of the week. Success in developing coronavirus vaccines and strong US economic data is reducing the need for large-scale monetary stimulus, which is...

According to Bloomberg and analysts interviewed, the COVID-19 pandemic has "accelerated the tectonic shift in the global refining industry as demand for plastics and fuel increases in China and the rest of Asia, where economies are recovering rapidly from the pandemic". In turn, refineries in the US and Europe are struggling with the effects of the deeper economic crisis, and their economies are...

Analysts at JP Morgan Chase believe that the US GDP will show a decline in the first quarter of 2021. CNBC notes that JP Morgan was the first major bank to declare that the U.S. economy will start with a decline in 2021. Analysts see the reason for this trend in the negative consequences of the second wave of the coronavirus, the new restrictions it has caused and the fact that mass production of...

For the first time since 2013, the most popular currency for international payments was not the dollar, according to SWIFT data. Now the euro is in first place, and the Canadian dollar overtook the Chinese yuan. In October, the euro became the most popular currency for international payments, beating the dollar for the first time since February 2013. This is reported by Bloomberg with reference...

The "debt tsunami" launched by the governments during the pandemic resulted in an unprecedented increase in global debt. By the end of the year, it could reach $277 trillion, or 365% of global GDP. Since the end of last year, the volume of world debt has increased by $ 15 trillion and by the end of 2020 may reach $277 trillion, the Financial Times wrote, citing a report of the Institute of...

The dollar may fall by 20% next year, Citigroup strategists warned. The weakening of the US currency will be helped by the success of vaccine developers and the recovery of the global economy. The dollar is likely to fall by 20% in 2021 if coronavirus vaccines become widely available and help restore international trade and economic growth. This forecast was made by Citigroup Bank, Bloomberg...

Demand for oil will fall more sharply this year than expected, by 8.8 million barrels per day (bpd) to 91.3 million bpd. The main reason for this is the increasing restrictions in the wake of the second wave of the coronavirus pandemic, according to a November report by the International Energy Agency. The report also provides estimates for next year. Here, the growth forecast has even been...

The coronavirus pandemic will fundamentally change people's travel habits, follows from a study conducted by one of the world's largest satellite operators, Inmarsat. The study interviewed 9,500 people in 12 countries. Eight out of ten respondents (83%) said that they will no longer be using air travel to the same extent as before after the pandemic. The survey showed that only 34% of the...

The positive sentiment of financial market investors may disappear if US economic growth is weakened and the negative effects of the pandemic increase, warns the Fed in its semi-annual financial stability report. In addition to near record growth in quotations relative to company profits, a sharp increase in borrowing has been recorded. The debt to asset ratio of public companies in the USA has...