It’s mentioned often how central banks are one of the pillars of support when it comes to gold prices. JP Morgan’s analysis recently said that global gold investment has reached the highest level since 2012, and it wasn’t that long ago that it would have been strange to find an active central banker talking about gold.
The G-20 meeting appeared to result in a truce between China and the U.S. on the trade front, as was generally expected. Stock analysts eagerly awaited the release of the June Non-Farm Payrolls report on Friday for indications of what the Federal Reserve’s next monetary policy move might be. It was a shortened trading week due to the Independence Day holiday in the U.S.