Precious metals, particularly Gold and Silver have picked up renewed interest from investors who are seeking safe-haven assets for their capital as volatility and uncertainty remain elevated around the world.
China is still seeing increasing numbers of cases, but the pace of new infections seems to be slowing and the government claims that the situation there is largely under control.
New coronavirus cases have continued to climb in the U.S. in the wake of massive protests and the reopening of some of the more southern states.
Market volatility has increased amid fears that the U.S. consumer may be forced back into hiding as the virus shows signs of an increasing its spread again.
China has taken full advantage of the chaos in the U.S., using the footage of U.S. police trying to control the violence and looting in their own cities as justification for Beijing’s stance against, and treatment of, protestors in Hong Kong.
COVID-19 continues to generate uncertainty however as more countries begin easing their lockdowns and undertake monitoring for a potential wave of secondary outbreaks.
“Even as businesses see a resumption in customer traffic, many in the U.S. appear to be having trouble getting their employees to come back to work.”
The escalating tensions have many market analysts worried that the trade war between the U.S. and China which began before the outbreak could escalate into a full-scale and global event.
As countries around the world continue to take steps to try to restart their economies, governments attempt to begin the long recovery from the complete economic destruction brought about by the spread of COVID-19.
COVID-19 and the headlines surrounding the battle against it continue to be the primary headwind affecting all markets.