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Gold rises in price, the market estimates the economic damage from the coronavirus

February, 10 2020
watermark Economic news

Today, Gold quotes rose to a week maximum, reaching $ 1,580 per troy ounce. The precious metal is getting more expensive as rising concerns about the effects of Chinese coronavirus have increased the attractiveness of defensive assets.


The number of coronavirus victims on Sunday increased by 97 and exceeded 900 people. Thus, more people have already died from the new virus than from SARS almost two decades ago.


Gold also gained support as the dollar moved away from a four-month high versus a basket of major currencies.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.