Gold rises 1 percent with the safe-haven trend amid epidemic fears


# Gold rose Wednesday as fears of a worsening of the # Corona virus epidemic led to the trend of safe havens and the yellow metal received additional support from expectations of more monetary easing by # central banks.

And gold in spot transactions increased one percent to 1587.31 dollars an ounce by 06:05 GMT, after hitting 3.1 percent in the previous session as a result of the dollar’s rise. And gold rose in futures trading in the United States 0.3 percent to $ 1600.70 dollars.

“Investors may turn gold in search of safety,” said CMG Markets analyst Margaret Yang Yan, and she expected the recovery to be the result of US President Donald Trump’s statements, who said the epidemic in the next two weeks might be painful for the United States.

“The consequences of the monetary easing policy cycle and stimulus programs of trillions of dollars mean that liquidity will flood the market and an abundant supply of banknotes in the months, seasons and years to come, and this certainly strengthens the rise of gold amid a very limited supply (of present gold).”

For other precious metals, palladium fell 2.4 percent to $ 2,295.63 an ounce, platinum lost 0.5 percent to $ 718.92, while silver lost 0.2 percent to $ 13.94.

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