According to Angel Broking, On Wednesday, Spot Gold prices ended lower by 0.13 percent to close at $1565.3 per ounce.
Angel Broking's report on Gold
On Wednesday, Spot Gold prices ended lower by 0.13 percent to close at $1565.3 per ounce. Concerns over the economic damage by the coronavirus eased down after China's senior medical adviser suggested that the epidemic may be over by April 2020 which dented the appeal for the safe haven asset and pushed the prices lower. An evident slowdown the second largest economy in the world, China supported Gold prices earlier in the month. The death toll has crossed 1350 in China with over 60000 people infected by the coronavirus.
Outlook
Easing of tension over the rapidly spreading virus and its economic impact might dent the appeal for the safe haven asset, Gold. On the MCX, gold prices are expected to trade higher today.
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