The price of gold continued to rise on Thursday’s trading session as COVI 19 fears continued to dampen the stock market. Gold was up 1.25% to $1,659.66 an ounce at 10:04 am ET. Equiti Global Futures strategists earlier in a podcast hosted by The Kenyan Wallstreet noted that Gold really kicked off after the Geopolitical tensions between US and Iran.
Death toll from COVID-19 in the United States climbed to 11 this week, while the Federal Reserve moved to cut rates amid growing concerns regarding the epidemic.
Europe
Stocks on major European markets closed Thursday’s session with losses as the coronavirus epidemic spreads across the continent. Italy reports indicate 3,000 people infected. Its government allocated €7.5 billion.
Geopolitics
Senator Elizabeth Warren dropped out of the US presidential race after a disappointing Super Tuesday performance.
China
According to Chinese officials, the spread of COVID 19 might be subdued in most of the cities including Wuhan by the end of March.
