Tag
GOLD
Gold futures fell 1.70% to $1,706.06 by 4 pm local time, with global investors retreating from the pullback from gold after hopes were strengthened
Gold futures dropped by 0.47% at $1,7278.23 by 14.00 pm local time, with the commodity unable to hold most of its gains from the previous session.
All eyes are now set on silver as its prices started with huge follow-through buying after a convincing breakout this week.
In times of economic uncertainty, gold is touted as a safe haven for those who are wary of volatile investments such as stocks, as it is less risky.
Global investors rushed for the gold after mixed results coming from China’s economic data as well as the huge upsurge in jobless claims in America.
The world’s most popular digital coin has been having a good run, outperforming gold prices by +0.86% in the last 12 months.
Gold has so far gained 14% in 2020, supported by record holdings in gold ETFs as COVID-19 pitched world economies into recession and weakened investors’ appetite for risk.
The Nigerian Stock Exchange (NSE) partnered with ABSA Securities Nigeria to host a webinar on Thursday, 9 April 2020.
Investors are ignoring fiscal and monetary help, as uncertainty from the coronavirus outbreak coupled with weakening economic outlook.
The Bitcoin has dropped to a 12-month low, although it is still up 26% Year-to-date.
Bitcoin made further drastic losses sinking below $6,000 for the first time since May 2019 due to a coronavirus scare.