Published: 2020.03.16. Gold Rising and Financial Aid Due to Virus

Gold Rising and Financial Aid Due to Virus - Preview

After several days of slowing growth, the price of the yellow precious metal began to move up again. This morning, the price of gold was $ 1,662 (+ 0.8%) per ounce, which corresponds to 1,467 euros (+ 0.48%). One ounce of silver was trading at $ 17.02 (+ 0.8%), which corresponds to 15.02 euros. In the US stock market, quotes are recovering. The growth of the Dow Jones and S&P 500 indices amounted to almost + 5%.
Political and financial authorities in Europe and the United States responded to the crisis caused by the spread of coronavirus on both sides of the Atlantic. Financial assistance was promised to companies and their employees. US President Donald Trump has promised the provision of state aid to support the working class affected by the virus. The White House is also discussing a bill that provides for the freezing of payroll tax by the end of this year.
The European Union has also approved a financial assistance program with the unanimous support of all countries. The allocation of 25 billion euros. This money will go to support, among other things, small companies that are in a difficult position due to the crisis. In addition, part of the funds will go to support the health system in the EU countries.