Gold has been gaining sturdy momentum recently, with its value reaching above $1,600 per ounce for first time since 2013. That is very true within the backdrop of the continued worries over the COVID-19 epidemic in China that has been hurting the inventory market, and has raised the secure haven attraction throughout the board.
Per the most recent research, the COVID-19 epidemic has affected greater than 73,000 folks and claimed almost 1,900 lives up to now. Moreover, the expertise big Apple’s AAPL income warning led to risk-off sentiments. It cautioned that it will be unable to satisfy the present quarter income steering of $63-$67 billion supplied final month as a result of impression of the virus outbreak, which has quickly restricted iPhone manufacturing and curtailed demand for its merchandise in China (learn: Coronavirus to Hurt Apple Earnings: Time to Buy These ETFs?).
Additional, gold has been spiking on elevated bets that Federal Reserve will really feel greater stress to cut back rates of interest within the virus-affected economic system. Decrease charges will proceed to weigh on the greenback in opposition to the basket of currencies, elevating the yellow steel’s attractiveness because it doesn’t pay curiosity like fixed-income belongings.
Methods to Play
Given the…