The timing is going to be spot on for MEI as gold tumbled through the initial coronavirus sell-off before recovering as traders piled into safe-haven assets. Prices stabilized through May but sank in early June as growing risk-on attitudes drove capital into stocks and risky bonds. The metal recently thrived on from the expectation of low rates remaining for years. Federal Reserve policymakers revealed in June they expect near-zero interest rates to last at least through 2022 to ensure a robust economic recovery. Such forecasts strengthen gold's relative value for investors hungry for yield.Investors are also positioning for a weakened US dollar to boost the metal's price in the near future. Experts throughout the financial sector have flagged concerns of a dollar crash on the horizon. Stephen Roach, former chairman at Morgan Stanley Asia, cautioned on Tuesday the currency will collapse amid a swelling US debt pile and strained global trade relationships. A weaker dollar typically leads gold to appreciate as it turns cheaper for foreign investors and MEI are in the right place at the right time as GOLD will not only be the flavor of the month but the flavor for the next couple of years.
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Last
9.8¢ |
Change
0.003(2.63%) |
Mkt cap ! $222.9M |
Open | High | Low | Value | Volume |
9.4¢ | 10.0¢ | 9.4¢ | $576.2K | 5.872M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 171814 | 9.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.8¢ | 3187 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 172620 | 0.097 |
7 | 186985 | 0.096 |
2 | 500017 | 0.095 |
3 | 370000 | 0.094 |
4 | 404260 | 0.093 |
Price($) | Vol. | No. |
---|---|---|
0.099 | 37915 | 7 |
0.100 | 246740 | 7 |
0.105 | 2298059 | 23 |
0.110 | 1142514 | 14 |
0.115 | 1360654 | 6 |
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