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April Gold News 2020


Gold hits seven-year high as IMF warns of largest recession in 90 years

Gold hits seven-year high as IMF warns of largest recession in 90 years

The International Monetary Fund has warned that the 'Great Lockdown' will rival the Great Depression of the early 1930s, while the Office for Budget Responsibility have alerted the British public that we could see a record level of economic contraction when second quarter data is released in the summer.

In response, the price of gold hit a seven-year high, with safe haven demand the driving force.

Uncertainty for Europe as bailout talks fall short

Uncertainty for Europe as bailout talks fall short

Talks between European nations and their financiers over a coronavirus bailout worth an estimated €540bn (£476bn) fell short yesterday, with ministers promising a return to talks on Thursday.

G20 leaders at a virtual meeting on March 26th committed, “to do whatever it takes and to use all available policy tools to minimise the economic and social damage from the pandemic, restore global growth, maintain market stability and strengthen resilience”.

Worst quarter since 1987 as stock markets brace for coronavirus recession

Worst quarter since 1987 as stock markets brace for coronavirus recession

Global stock markets have almost inevitably recorded their worst quarter since 1987, as the coronavirus continues to keep Europe and parts of Asia under lockdown and hinder economic activity and societal norms.

At the end of 2019, the Global Economic Conditions Survey (GECS) predicted a steady 3% growth in world trade. Poor Q1 figures plus the unprecedented impact of Covid-19 has dashed any such hopes, and many nations - including the UK, Germany and Japan - are expecting to report they are officially in recession later this month.

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