empty
 
 

2020.04.1710:28:00UTC+00Gold Prices Tumble On US Reopening Hopes

Gold prices fell sharply on Friday amid improved risk appetite after U.S. President Donald Trump gave governors guidance on reopening state economies in the coming months.

Spot gold fell 1.6 percent to $1,689.69 per ounce, while U.S. gold futures were down 1.7 percent at $1,702.70.

Trump told the nation's governors on Thursday that they could begin reopening businesses, restaurants and other elements of daily life by May 1 or earlier if they wanted to for recovering from the economic pain of the coronavirus pandemic.

Meanwhile, investors brushed aside weak GDP data from China to focus on the most promising results against the new coronavirus.

Health-care publication STAT News reported that the experimental Covid-19 treatment remdesivir is showing promise in a Chicago clinical trial.

China's first quarter GDP shrank 6.8 percent in 2020 as compared to a year ago, marking the first quarterly decline since 1992.

Fixed asset investment in the first quarter tumbled an annual 16.1 percent and industrial production dipped 1.1 percent year-on-year in March, while retail sales plunged 15.8 percent in the month, the National Bureau of Statistics said.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback