According to Navneet Damani, Vice President, Motilal Oswal, gold prices edged higher touching the $1,600 level as death toll and number of affected people due to the coronavirus outbreak continues to rise.
Gold prices eased on Wednesday after crossing the key $1,600 level in the previous session, as global shares climbed in cautious trade following a slight dip in new coronavirus cases, while palladium hit a fresh peak on supply issues.
According to Navneet Damani, Vice President, Motilal Oswal, Gold prices eased a bit from its two-week as a monetary policy intervention by China’s central bank to limit the economic impact from the coronavirus outbreak reassured investors and boosted demand for higher-risk assets.
According to Navneet Damani, Vice President, Motilal Oswal, gold prices held steady near a one-week high, as a mounting coronavirus death toll supported safe-haven buying, while a stronger dollar capped gains.
365体育官网The Organization of the Petroleum Exporting Countries lowered its 2020 demand forecast for its crude by 200,000 bpd, prompting expectations the producer group and its allies, known as OPEC+, could agree further output cuts when they next meet, possibly as early as this month.
365体育官网According to Navneet Damani, Vice President, Motilal Oswal, gold prices rose as investors took shelter under the safe-haven against the riskier assets after a sharp jump in the death toll and infections from a coronavirus epidemic in China.