Gold Prices Gain as Global Stock Markets Continue to Wobble

Live Spot Gold

SPOT MARKET IS OPEN
closes in 4 hrs. 50 mins.Mar 11, 2020 12:10 NY Time

Bid/Ask1646.70 / 1647.70
Low/High1644.10 / 1672.20
Change-2.20-0.13%
30daychg+74.90+4.77%
1yearchg+353.80+27.36%
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Silver Price & PGMs

Mar 11, 2020 12:10 NY TimeKitco 10AM Silver Fix

Silver16.84-0.02
Platinum872.00+1.00
Palladium2191.00-127.00
Rhodium11500.000.00

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(Kitco, Wed. Mar. 11TH, 2020) – Gold prices are moderately higher in early U.S. futures trading Wednesday. The safe-haven metal remains in good demand among traders and investors as the coronavirus scare continues to escalate and governments ramp up their efforts to battle the spread of the illness. April gold futures were last up $7.30 an ounce at $1,667.80. May Comex silver prices were last up $0.04 at $16.995 an ounce. 

Global stock markets are mostly lower Wednesday and U.S. stock indexes are pointed toward sharply lower openings when the New York day session begins. The higher volatility, yo-yo daily trading action recently favors the bearish camp. The coronavirus outbreak continues to spread, including in the U.S., where major conventions are being cancelled, some colleges are telling students to go home and U.S. airlines are reducing flights substantially. 

The Bank of England cut its key interest rate by 0.5% overnight and the U.K. government said it is set to implement economic stimulus measures. The marketplace was a bit upset Tuesday when the Trump administration failed to announce any U.S. economic stimulus measures after President Trump hinted such might occur.

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