Global markets continue to struggle with the coronavirus (COVID-19) pessimism as Gold takes rounds to $1,630,
currently up 0.10% near $1,628, amid Monday’s Asian session. While the weekend headlines suggested US President Donald Trump removing quarantine from the hot-spot, the latest extension to social-distancing till April 30 seems to weigh on the risk-tone.
The trading sentiment continues to dwindle with the 10-year US Treasury yields extending the previous downside by seven basis points (bps) to 0.667% by the press time. Also portraying the risk-off are the US stock futures and Japan’s NIKKEI.
Buyers are waiting for a sustained move beyond $1,645 to accelerate the gradual recoveries from the 21-day SMA level of $1,595.