Fundamental analytics

XAUUSD

Gold, same as other protective assets, starts the trading week with an upward gap due to the reports of a new strain of coronavirus rapid spread. 

News of the deadly coronavirus spread had the strongest impact on bidding      

The Fed and the Bank of England meetings will be the main events of the upcoming trading week

XAUUSD

Gold price slightly decreased on Friday (by 0.3%) due to the statements made by the World Health Organization regarding the new coronavirus.    

WTI

Oil prices fell to their lowest level in the last seven weeks of trading amid API reports and rising US oil inventories and concerns over the spread of the deadly strain of coronavirus.

Gold

On Thursday, gold price remains stable due to the growing concerns about the spread of the deadly strain of coronavirus.

WTI

Oil prices continue to decline amid IEA claims of market imbalance in favor of oversupply.

XAUUSD

Gold has declined by 0.4% on Wednesday due to recovery in Asian indices and a stronger USD.  

WTI

Oil prices are in decline despite reports of energy production problems in Iraq and Libya. 

XAUUSD

Gold price increased by 0.4% on Tuesday amid a sharp decline in risk sentiment in the market.