Gold Price Rises as Unemployment Rate Soars Globally

Positive 4.99 percent change of gold price is being observed in global indexes while stock prices do not seem to be on an uptrend as the COVID-19 lockdown has been pressuring on economies to stay frozen. Meanwhile, 26 million U.S residents have lost their jobs which urges FRS (Federal Reserve System) to inject more funds to rescue the victims. Those who have savings or investment funds might have shifted their funds into buying precious metals. The inflation rate could rise soon if the situation keeps the same. Thus, smart investors may save their funds by getting physical and precious items.

At the beginning of the COVID-19 outbreak, the gold price fell to $1477 per ounce, and right now it is traded at $1755. Just imagine the person who bought at that lousy time now is enjoying the $278 margin. If he keeps waiting for a couple of months may be the difference would be twice greater than now.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life