What is market shift amidst pandemic contemporary world
Answers
Answer:
There is currently no licensed medication to cure COVID-19. If you have symptoms, call your health care provider or COVID-19 hotline for assistance.
Explanation:
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Answer: The current pandemic, with its double whammy of plunging demand and disrupted supply, has few precedents. However, past episodes of major economic recessions, disruptions, and other pandemics can provide valuable insights into how commodity markets are affected by major shocks. The terrorist attacks on the United States on September 11, 2001, which led to widespread travel disruptions and reduced demand for oil, is one such precedent. Past global recessions, which have been accompanied by sharp declines in both the price of and demand for industrial commodities, are others.
Prices: oil down, gold up, agriculture mixed
In past episodes of disruption or recession, oil prices typically fell sharply, with the largest decline occurring during the 2008-09 global financial crisis. The current pandemic has led to a larger drop than any of these previous episodes, with a peak-to-trough plunge of 70 percent. In contrast, other commodity prices have seen smaller falls during the current pandemic than in previous episodes. During the global financial crisis, for example, copper prices tumbled almost 60 percent, but have fallen by a relatively more modest 20 percent since January 2020. Agricultural prices, which are typically less affected by recessions or disruptions, have in general seen only small declines this year. Gold prices have also undergone broadly similar changes as in previous events, as prices have risen, reflecting investor uncertainty.
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