May 29, 2020

Gold is trading at $1,737, its highest level of the week, as increasing tension between the US and China and disastrous US consumer spending data is attracting investors back to safe haven assets like metals.  Personal income surged 10.5% as stimulus aid entered the economy, however, consumer spending fell 13.6%, as more Americans are deciding to save their money. The shift in consumer spending does not bode well for a swift economic recovery as people may look to pad their savings instead of investing right away.