Question

Analyzing the impact of the fluctuating gold market on the Palestinian economy as ( a gold trader) in light of the Corona pandemic in details.

Answer 1

Answer:
Impact of the fluctuating gold market on the Palestinian economy as (a gold trader) in light of the Corona pandemic are mentioned below:

• Following the COVID-19 outbreak, we face phenomenal levels of uneasiness universally, which has influenced all resource classes counting gold. It shows up that instability in gold cost is driven by enormous liquidations over all assets.
• As currencies are linked with Gold, as the price of Gold will go up, currency will start getting devalued. It will further increase by reduced demand and stress in the economy due to Corona. So there would be uncertainties in the business of gold traders of Palestine as well.
• It may happen after purchasing Gold its price decreases which will lead to loss of Gold Traders.
• Because of Corona most of the asset classes are negatively affected, adding to economic condition as Palestine import is way bigger than its export it will have further negative impact.
  The same will be faced by Gold traders there as well while importing Gold from external market as well as while selling due to low demand.

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