Gold Near Two Week High on Safe Haven Bid Due To Virus and IMF Global Growth Concerns

Gold Near Two Week High on Safe Haven Bid Due To Virus and IMF Global Growth Concerns

] ◆ Gold prices rose to a two-week high today prior to giving up the initial gains; Spot gold prices reached their highest since January 8th at $1,568.40/oz prior to falling to $1,556.60/oz ◆ The spread of a new virus in China stoked fears of a wider epidemic in Asia, sparking a sudden bout of … Read more

Gold At Record Highs In Euros on Concerns regarding the Euro zone and Global Economy as Virus Spreads

Gold At Record Highs In Euros on Concerns regarding the Euro zone and Global Economy as Virus Spreads

] ◆ Gold has risen to new all time record highs in euros at €1,437/oz today due to safe haven demand due to concerns about the Euro zone and the global economy ◆ Gold is consolidating near all time record highs in sterling at £1,210/oz and at seven year highs in dollars at $1,590/oz ◆ … Read more

Gold Consolidates Near Six Year Record Highs At $1574/oz; WHO’s ‘Tip of the Iceberg’ Virus Warning

Gold Consolidates Near Six Year Record Highs At $1574/oz; WHO’s ‘Tip of the Iceberg’ Virus Warning

] via Bloomberg Gold climbed for a fourth day as investors weighed the unfolding coronavirus crisis, including a stark warning from the head of the World Health Organization about the potential for more cases beyond China and signs the disease is spreading in the key Asian trading hub of Singapore. Prices rose as the death … Read more

Gold Jewellery Demand In China To Fall On Virus; HNW and Institutional Gold Demand May Increase

Gold Jewellery Demand In China To Fall On Virus; HNW and Institutional Gold Demand May Increase

] ◆ Sales of gold jewelry in China are set to plummet this year as the economic damage from the deadly coronavirus crisis widens ◆ People not “in mood” to shop for jewelry says China Gold Association ◆ Luk Fook shortens business hours at stores to curb infections ◆ Editors note: China’s gold jewelry demand … Read more

‘Death Cross’ Strikes U.S. Dollar As Virus Cases Grow

'Death Cross' Strikes U.S. Dollar As Virus Cases Grow

] (Reuters) A resurgent coronavirus pandemic in the United States and the prospect of improving growth abroad are souring some investors on the dollar, threatening a years-long rally in the currency. The dollar index is off 6% from its recent highs, while net bets against the currency in futures markets stand near their highest level … Read more