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June market update – the price of gold climbs to a 7-year high

Chief Investment Officer Chris Godding and Senior Research Analyst Louie French give their commentary on what happened in the markets and global economies over the month of June 2020.
Chris Godding
Written by Chris Godding
Published on 10 July 2020

Global equity markets continued their recovery over the month of June, albeit at a steadier pace relative to the start of the second quarter, as the gradual increase in global economic activity (supported by historic stimulus packages) was finely balanced with the worrying outbreak of Covid-19 cases in a number of US states and countries such as Brazil.

In this edition

  • The US dollar was weaker over the month, which also supported Asian and Emerging Market equities and another month of positive commodity market returns
  • Within commodity markets, oil prices continued to edge higher and delivered the strongest quarterly returns since the start of the Gulf War in 1990, following the first quarter’s dramatic falls
  • There was continued demand for gold and other precious metals, reflecting the caution amongst investors over the uncertain economic outlook

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