Gold Prices Drop

Gold prices slipped this morning, especially during the Asian trading hours as most traders and investors assessed the risk of a massive epidemic from a coronavirus outbreak in China.

Presently, the precious metal trades at $1554.18, which is another retreat of $2.62 or 0.17% from the previous close of $1556.80.

The daily range is from $1550.07 to $1559.14, while the trading volume is 80.793K.

Today, the death toll from the Wuhan coronavirus in China jumped to nine and the United States reported its first case.

In the meantime, the USD is into a firm position versus the major pairs, which makes Gold price higher for holders of other currencies. Still the negotiations between Beijing and Washington are in the mainstream.

The Trump Administration is even expected to impose even stricter sanctions against Huawei, China’s giant hi-tech company.