Commodity News
HeadLine : Gold Prices Down as Asian Markets Report Gains
Date : Mar 31 2020
Gold prices in Asia were down on Tuesday morning as stock markets gained. Prices of the yellow metal reached $1,645.3 overnight as investors reacted to the United States’ extension of COVID-19 restrictions to April 30 by seeking safe havens. But Gold futures failed to hold onto its gains from the last session and fell by 0.37% at $1,637.1. Asian equities markets reported gain today as China announced a Manufacturing Purchasing Managers’ Index of 52 for March, defying expctations of a contraction. Gold is finally starting to shake its recent mantle as a risk asset and becoming more of a haven asset again, especially with the extension of national social-distancing controls through April 30. The recessionary fallout of the Covid-19 outbreak on the global economy suggests investors are likely to continue to seek refuge in gold.

Source: Investing.com
News Archives: