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The market is worried about the rising number of infections in the United States, The Gold price straight up to a seven-year high!

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.




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