Gold: Bulls dominate beyond $1585 as coronavirus-led risk-off continues
Gold prices remain 0.33% positive to stay mildly above $1586 during early Tuesday. The yellow failed to extend the previous day’s declines as the market’s fear wider than a registered outbreak of China’s coronavirus. Concerns about the deadly epidemic have also been raised by the key global institutions off-late.
Joining the league of International Monetary Fund (IMF) and World Trade Organization (WTO), the Reserve Bank of Australia’s (RBA) minutes statement recently cited coronavirus risk as material to China and thus to Australia.
|Today last price||1586.5|
|Today Daily Change||5.55|
|Today Daily Change %||0.35|
|Today daily open||1580.95|
|Previous Daily High||1583.84|
|Previous Daily Low||1578.88|
|Previous Weekly High||1584.36|
|Previous Weekly Low||1561.99|
|Previous Monthly High||1611.53|
|Previous Monthly Low||1517.1|
|Daily Fibonacci 38.2%||1580.77|
|Daily Fibonacci 61.8%||1581.95|
|Daily Pivot Point S1||1578.61|
|Daily Pivot Point S2||1576.26|
|Daily Pivot Point S3||1573.65|
|Daily Pivot Point R1||1583.57|
|Daily Pivot Point R2||1586.18|
|Daily Pivot Point R3||1588.53|
Commodities Weekly: Gold at two-week high on virus fears
GOLD prices are at the highest since February 3 despite recent news that a number of countries are planning extra fiscal stimulus measures to shore up their economies from the virus effect. The number of global CoVid-19 virus cases continues to rise, albeit at a slackening pace, and investors are trying to assess whether the fiscal response will be enough to keep the global growth engine alive.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.