Due to reports of a potential second wave of coronavirus outbreaks in China and Japan, investors may turn to gold as a safe haven. China reported 17 new cases as of May 10, and closed the entrance to the city of Shulan, in Jilin province in the northeast of the country. The city is on the border with North Korea, and the closure has raised questions about how the isolated country is coping with the coronavirus pandemic. Meanwhile, fears of a second wave of the epidemic have emerged in South Korea as the country announced another 27 cases on 10 May, the highest since March.

GOLD/USD, 30 min

Pivot: 1700.50