Gold: Mildly positive below $1580 as risk aversion continues
Gold remains firm around $1,578 during Friday’s Asian session. The extension of an increase in coronavirus cases seems to have favored the bullion’s latest run-up after cases shot the previous day on the change of diagnosing method.
As per the latest release from China’s Health Commission, the epicenter Hubei province reports 4,823 new cases on the second day of using the new method. The details suggest that the number of people in serious and critical condition rose to 9,638 from the prior readouts of 7,084.
|Today last price||1576.28|
|Today Daily Change||-0.03|
|Today Daily Change %||-0.00|
|Today daily open||1576.31|
|Previous Daily High||1578.34|
|Previous Daily Low||1565.54|
|Previous Weekly High||1594.01|
|Previous Weekly Low||1547.56|
|Previous Monthly High||1611.53|
|Previous Monthly Low||1517.1|
|Daily Fibonacci 38.2%||1573.45|
|Daily Fibonacci 61.8%||1570.43|
|Daily Pivot Point S1||1568.45|
|Daily Pivot Point S2||1560.6|
|Daily Pivot Point S3||1555.65|
|Daily Pivot Point R1||1581.25|
|Daily Pivot Point R2||1586.2|
|Daily Pivot Point R3||1594.05|
Gold holds firm in positive territories, investment demand to grow in 2020
The price of gold is firm and higher by 0.67% on the day so far, having travelled from a low of $1,556.60 to a high of $1,578.30. Worries with the coronavirus taking a turn for the worse on Wednesday night, following the announcements by the Chinese health officials in the Hubei province reporting 242 new deaths and 14,840 new cases of the flu-like virus, dented risk appetite.
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