THE RECOVERY OF GOLD AND OIL

Gold price continues upward trend

Despite being the archetypal safe-haven asset, gold, like everything else, eventually took a hit to the downside on the realization that COVID-19 would become a global pandemic. From the week beginning March 23, however, the gold price rebounded at the same time as a bear market rally in U.S. stocks. Despite the mid-March fall in the gold price, in tandem with the stock market crash, the yellow metal has recovered and the market appears convinced that it is on an upward trajectory.

The Beginning Of A Tremendous Oil Rally

Evidence of recovering oil demand began to emerge over the past week. Yesterday, oil prices climbed to their highest level in months, with West Texas Intermediate (WTI) at $32 and Brent breaking $35 per barrel. Sentiment has vastly improved over the past few weeks, and recent promising news about a potential coronavirus vaccine has boosted energy and equity markets.

Despite the fluctuation of the market recently, Ritva’s IB team is still doing great in an attempt to making countless profit because their commission is not based on the profits or losses of traders, but on managing trade execution for their clients. And the most amazing thing is we could actually get a huge stable profit from the trillion-dollar-but- uncertainty market.

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