Gold gets cheaper, coronavirus panic overshadows incentive measures

US, WASHINGTON (ORDO NEWS) — The price of gold fell on Thursday due to the continued flight of investors in cash to protect themselves from the global economic impact of coronavirus. Support measures by central banks have failed to calm markets.

The spot price of gold fell 0.5% to $ 1.478.2 per troy ounce by 13:44 Moscow time.

“Given the increased travel restrictions and other quarantine measures, global economic activity is clearly violated … this indicates a growing risk of a global recession that intensifies the slaughter in the markets,” said Han Tan, market analyst at FXTM.

The palladium price fell 0.8% to $ 1,574.8 an ounce, platinum lost 3.9% to $ 600.

The price of silver is inactive at $ 11.96.

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The article is written and prepared by our foreign editors from different countries around the world – material edited and published by Ordo News staff in our US newsroom press.

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