Gold prices were boosted by the news of the shutdown of Valcambi, Argor Heraeus and PAMP refineries in Switzerland, which account for about a third of the world's gold supply. Valcambi and PAMP said that due to the coronavirus COVID-19 will stop working from March 23 to March 29, while Argor will stop until April 5. GOLD/USD, 30 min Pivot: 1615.00
In the UK, the extension of Coronavirus restrictive measures to six months is not excluded. This was stated by UK Deputy Chief Medical Officer Jenny Harris. According to her, some measures that limit the social interaction of the British, are an effective way to combat the coronavirus. GBP/USD, 30 min Pivot: 1.2000
The price above 200 MA, indicating a growing trend. The MACD histogram is above the zero lines. The oscillator Force Index is above the zero lines. If the level of resistance is broken, you should follow the recommendations below: Timeframe: H4 Recommendation: Long Position Entry Level: Long Position 19.4000 Take Profit Level: 19.7000 (3000 pips) If the price rebound from resistance level, you should follow the recommendations below: Timeframe: H4 Recommendation: Short Position Entry Level: Short Position 18.6500...
The price of gold dropped slightly on Wednesday, while markets were waiting for the U.S. Congress to adopt a $2 trillion support package to mitigate the coronavirus outbreak. U.S. senators and officials of the U.S. Presidential Administration Donald Trump reached an agreement on a massive stimulus package, said Wednesday the White House spokesman Eric Ueland. GOLD/USD, 30 min Pivot: 1608.00
In 2020, the UK economy may decrease by more than 5%, according to experts from the auditing company KPMG. The expected GDP decline risks being the largest in 59 years. The spread of coronavirus and the collapse of oil prices triggered a decline in British industry and services, as well as weakened domestic demand. The current situation caused panic among investors and led to a record weakening of the GBP in 35 years. GBP/USD, 30 min Pivot: 1.1805
