Retail sales, credit cards defaults and anything that seems to be a service is suffering. The numbers reported last Friday are not correct and it seems they are likely to have been manipulated, as it was reported that the unemployment rate dropped to 14% however after looking at the research we can see that the real estimates are that it grew to 25% unemployment.
And this is to be expected as many businesses are closing down at record numbers, the hospitality industry will see prolonged hits to the sector (restaurants, hotels) as people seek to make different arrangements for their summer and those struggling can no longer afford any planned holidays.
In summary, stay alert, as soon there will be a time to buy gold as the world economies continue to crumble under the weight of coronavirus.
Our target is 1.0776
Our target is 1.2333
Our target is 1.3850
Our target is 1640.00