EGU Weekly Digest | Risk events fuel market risk aversion

1) Review of EGU Price Change

The following is the daily gold price change of Everest Gold (from 14 September 2020 until 20 September 2020).

According to the statistics for the past 7 days, EGU prices have risen by less than 1% on one of the days. For the remaining days, the prices increased between 1% to 2%. This goes to show that if the user trades on our platform with a fixed amount of 2,000 EGU each time, the capital will be approximately USD 1,308 and the accumulated profit will amount to USD 121.80 in 7 days. This means that the user will be able to achieve an ideal return on investment of 9%. Therefore, seizing more trading opportunities will allow a higher return on investment.

2) Review of Market News

On 16 Sep 2020, the Federal Reserve maintained its target for the federal funds rate – the benchmark for most interest rates – at a range of 0% to 0.25%. This decision was in line with the market expectations which has strengthened the U.S. dollar and the spot gold price fell to USD 1,949.90 per ounce. As the Federal Reserve is expected to maintain ultra-low interests until 2023,coupled with the slow recovery of the global economy, the gold price trend remains optimistic in the long run.

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