Money USA: Household spending continues to grow in June
Gold hits $ 2,000 mark, has further upside potential
(Bloomberg) - The gold rally has gained further momentum, the price reached new record highs and exceeded the mark of $ 2,000 an ounce on the daily market. The gold price is getting a tailwind from the prospect of further stimulus measures against the effects of the coronavirus pandemic, a further decline in US real yields and increased geopolitical risks.
USA-ECONOMY-CONSUMPTION: USA: Household spending continues to grow in June
WASHINGTON (Reuters) - US consumer spending increased in June for the second month consecutive, sign of an economic recovery expected in the third quarter despite the resurgence of cases of coronavirus contamination and the increase in unemployment.
Household spending, which accounts for more than two-thirds of economic activity in the United States, rose 5.6% in June after a record 8.5% increase in May following the reopening of shops, show data released Friday from the Commerce Department.
Economists polled by Reuters on average forecast a rise in consumer spending of 5.5% in June.
The gross domestic product (GDP) of the United States in the second quarter suffered a record contraction of 32.9% on an annualized basis, the measures taken to try to stop the coronavirus pandemic having paralyzed the world's largest economy.
(French version Juliette Portala, edited by Patrick Vignal)
Pyongyang continues to develop its .
nuclear weapons program