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Park Avenue Numismatics
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Miami, FL 33137
 
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Retailers and restaurants across the U.S. close their doors amid protests

Monday, June 1, 2020

Gold last traded at $1,750 an ounce. Silver at $18.76 an ounce.

NEWS SUMMARY: Precious metal prices rose Monday on safe-haven buying and a weaker dollar. U.S. stocks struggled as investors digested the impact protests may have on reopening the U.S. economy.

HOUSTON CHRINICLE--"It had only been two days since Lilliannia Ayers reopened her Queen Hippie Gypsy store in downtown Oakland, Calif., before her front window was smashed and her storefront was spray painted Friday. On Saturday night, she and neighbors stayed up all night to protect their stores - hopeful the protest movements across the U.S. would not destroy her business so soon after it suffered a devastating hit from the pandemic shutdown. Similar scenes of destruction have created chaos and concern along the path of the nation's protests over the death of a black man in police custody in Minneapolis. That's pushed brick-and-mortar retail and restaurant industries, already hard hit by the coronavirus pandemic, to the center. Retailers and other businesses in cities across the U.S., including the Bay Area, the District of Columbia, New York, Atlanta, Philadelphia and Minneapolis, experienced broken windows, thefts and other violence over the weekend. The actions prompted a number of businesses to shut their doors and raised questions about how exactly the actions relate to the protesters, many of whom were peaceful. Walmart on Sunday closed several hundred stores due to potential protests. Amazon said it had adjusted routes or scaled back delivery operations in some cities, while Apple closed an unspecified number of stores on Sunday. Target said it temporarily closed six stores in California, Minnesota, Illinois and Pennsylvania. The Mayor of Philadelphia ordered all retailers to shut down Sunday. Destruction is adding a new economic wrinkle for businesses already struggling. But the actions across the U.S. in protest of police brutality has also prompted many affected businesses to speak out in support of the protests."

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