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Gold Prices Fall As Coronavirus Puts off Investors

Risk appetite has made a recovery, encouraging investors to take some profit from the table on safe-haven positions in gold and the Japanese Yen.

At the time of writing, gold prices have declined from two-week highs marginally above $1,590 to just below $1,550 on both hopes that a cure to the coronavirus from China will be eventually sourced, and an assessment that losses including WTI Oil losing $10 over the past few weeks as well as China stock markets (Shanghai Composite and CSI 300 Index) suffering declines near 10 percent on the return to trading from the Chinese new year holiday, has been an exaggerated reaction.

Still, it doesn’t appear that market sentiment is out of the woods yet. What we do know and have seen in recent days is that major corporations are warning over what impact the virus could have.

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