Gold prices retreated some ground today after two sessions of rallies, but risk-averse sentiment in the market capped the safe-haven metal’s losses.
Now, gold trades at $1575.76, which is a minor rise of $1.26 or 0.08% from the previous close of $1574.50. The daily range is from $1572.44 to $1578.06, while the trading volume is 91.677K.
However, still, there are some issues in regards to the virus as the death toll in China’s Hubei province advanced 116 today, with the total number of cases up by nearly 5,000.
Moreover, adding to global tensions, the head of Iran’s Revolutionary Guards Hossein Salami stated that Teheran could attack the US and Israel in case these countries make an “error.” This could help the price of the precious metals in the near-term.