on March 3, the FED urgently cut benchmark rate by 50 bps, said that the virus poses evolving risks.
Moreover, the fast spreading of the virus around Italy, America, Japan, Korea and Iran really provides a solid support for gold price.
Gold price rocketed up to 1650 usd/ounce in several minutes.
Downtrend from 1690 finished temporarily.
As long as price runs above 1625, it's very likely to have another bullish run to test resistance 1660.
Moreover, the fast spreading of the virus around Italy, America, Japan, Korea and Iran really provides a solid support for gold price.
Gold price rocketed up to 1650 usd/ounce in several minutes.
Downtrend from 1690 finished temporarily.
As long as price runs above 1625, it's very likely to have another bullish run to test resistance 1660.