Precious Metal: On Tuesday MCX Gold fell from near one-week high smashed in the last session because of a stronger dollar and an uptick in equities as China's factories slowly return to work amongst increasing death total from the coronavirus outspread. Investors changed to the protection of the U.S. dollar and the Japanese yen as China added 108 new deaths, compelling the total death total to 1,016, as worries remained about how rapidly the country's factories could grow back to work.
It is predictable to reiterate that the U.S. economy is doing fine but that interest rates can keep low given restrained inflation. Gold is extremely delicate to any decrease in interest rates, which declines the opportunity cost of holding non-yielding bullion. Rate cuts also assess on the dollar, in which gold is priced.