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Gold Prices Slip Despite Meltdown in Global Stocks


Friday, 28 February 2020 13:22 WIB

EMAS


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Gold prices slipped for the second day in a row on Friday in Asia despite a continued meltdown in global stocks.

Gold Futures for April delivery slipped 0.1% to $1,640.70 by 12:40 AM ET (04:40 GMT).

Gold prices gave up some of its earlier gains this week as traders booked profit as the yellow metal traded a seven-year high.

Despite the pause, many expect the yellow metal to regain the steam that took it to seven-year highs of nearly $1,700 an ounce shortly.

Asian markets traded sharply lower today, with Japanese and Chinese stocks plunging more than 4%. The World Health Organization said Thursday that the coronavirus outbreak has the potential to become a pandemic and is at a decisive stage.

Source: Investing


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