Tue. Sep 22nd, 2020

Gold hits six-week high as traders look for Santa Rally – business live

Rolling coverage of the latest economic and financial news, on the final trading day before Christmas

9.09am GMT

The Santa Rally is a long-established City tradition. The idea is that stocks typically rise during the final few trading days of December, and the start of the New Year.

8.49am GMT

Fawad Razaqzada, market analyst at Forex.com, reckons gold and silver prices could both keep rallying in 2020.

He suspects precious metal prices are ‘breaking out’ of their previous trading range. Partly that’s thanks to central banks – whose loose monetary policy has driven asset prices up. But increased demand, perhaps from China, is another factor.

Continue reading…

Leave a Reply

Your email address will not be published. Required fields are marked *