InstaForex told about three significant events for precious metals
Judging by the information of InstaForex analysts, several important events took place last week that had an impact on the price of gold, silver and the US dollar. The introduction of the Pfizer vaccine has given investors optimism that the fight against coronavirus will be won. The second important event that affected the market situation was the revision of the financial aid package. 908 billion dollars will go in two tranches.
Presumably, $ 748 billion will be allocated by the end of 2020. As for the 160 billion dollars provided for corporate liability insurance in the fight against Covid-19 and municipal assistance, their allocation is still in question. The third major event was the FOMC meeting. It is already known that the FED intends to continue the chosen monetary policy until 2023. Taken together, this positively affected the value of gold and silver, but caused the dollar to decline.
This week will be decisive for the USD, as the outcome of the negotiations on the bipartisan proposal is already coming to an end. If the law is not passed, about 12 million Americans (unemployed and those affected by the eviction moratorium) will suffer. The eviction moratorium ends on December 31, and extended unemployment benefits will end the day after Christmas.
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