The market is worried about the rising number of infections in the United States
US Vice President Pence said last week that 1.5 million new coronavirus test kits will be distributed. The ultimate goal is to allow doctors and pharmacies everywhere to have the test kits within a few weeks. Anyone in need can carry the new coronavirus. Detection. Among them, FDA will send 1 million test kits with quality inspection from last Friday (6th) to this Monday (9th) at the latest. What worries the market most is that if a large number of American citizens test the virus, the number of local infections will increase sharply, which will further dampen market confidence.
The Gold price straight up to a seven-year high!
During the Asian session on March 9th, spot gold continued its upward trend, refreshing a seven-year high to $ 1703.39. Under safe-haven buying, gold hit its largest weekly increase in more than four years, as the market was permeated with concerns about the spread of the new crown virus incident. The global central bank is lowering interest rates to a level lower than in the era of the financial crisis, increasing the attractiveness of gold as an interest-free asset. Goldman Sachs raised its 12-month gold price forecast by US $ 200 to US $ 1800 per ounce; Citigroup reiterated its prediction that the gold price may rise to US $ 2,000, a record high.
Z. com Bullion is an affiliate of GMO Financial Holdings, Inc., a Japanese listed group. The risk of loss in leveraged foreign exchange trading & margin trading can be substantial. Visit the company website to read full risk warning. https://bullion.z.com/en/about/legal/risk/
Service relating to Over-the-counter (OTC) Gold Bullion/Silver trading is provided by MOL. OTC Gold/Silver Bullion trading carries a high degree of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. OTC Gold/Silver Bullion is not regulated by the Securities and Futures Commission (""SFC"") and therefore trading OTC Gold/Silver Bullion will not be subject to rules or regulations promulgated by the SFC. Before deciding to trade OTC Gold/Silver Bullion you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain losses in excess of your deposited fund or even more in extreme circumstances and therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading OTC Gold/Silver Bullion, and seek advice from an independent financial advisor if you require.