Gold gets initial lift from China virus, but may take longer-term hit GlobeInvestor
This translation has been automatically generated and has not been verified for accuracy.One of the few beneficiaries from the outbreak of a deadly new coronavirus in China has been gold, which is fulfilling its customary role as a safe haven. But the epidemic may actually end up being bad news for the precious metal.
China’s investment demand was better, increasing 1% in 2019 to 235 tonnes, aided by uncertainty over the trade war with the United States. Spot gold has lifted since the virus started grabbing headlines, with the price rising from a recent closing low of $1,546.12 an ounce on Jan. 14 to end at $1,577 on Wednesday, a gain of 2%.
There is a chance that investors have oversold both copper and crude, or indeed that they haven’t piled hard enough into gold. It’s likely weaker economic growth in India and higher bullion prices contributed to the slowdown in imports.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Negative-yielding debt sends investors scurrying into goldAnalysts say ultra-low bond returns mean the yellow precious metal has become a necessity in portfolios
Read more »
China virus toll rises to 170 as fear grows over global economic hitIndia became the latest country to report a case - a student of Wuhan University
Read more »
Project fear: Misinformation spreads China virus panicMisleading bat soup videos, vastly inflated death tolls, quack remedies and vaccine conspiracies -- a global deluge of misinformation is compounding public fears about China's new coronavirus and stoking racial stereotypes.
Read more »
China virus death toll rises to 170, transmission a concernThe death toll rose to 170 in the new virus outbreak in China on Thursday as foreign evacuees from the worst-hit region begin returning home under close observation and world health officials expressed 'great concern' that the disease is starting to spread between people outside of China.
Read more »
Airlines suspend China flights, cut services on virus fearsBritish Airways and Asian budget carriers Lion Air and Seoul Air have joined a growing list of airlines that are suspending flights to China as fears spread about the outbreak of a new virus that has killed more than 130 people.
Read more »
Airlines suspend China flights, cut service on virus fearsBritish Airways and Asian budget carriers Lion Air and Seoul Air are suspending flights to China as fears spread about the outbreak of a new virus that has killed more than 130 people.
Read more »