US stocks reach new record

GOLD slipped overnight as US stocks hit a new record and base metals made up some lost ground.
US stocks reach new record US stocks reach new record US stocks reach new record US stocks reach new record US stocks reach new record

Gold fell to US$1571.30 an ounce after the S&P 500 rose 0.2%.

That was despite the World Health Organisation describing the coronavirus outbreak as an emergency for China and a "very grave threat for the rest of the world".

The death toll has passed 1000 with 2560 new cases yesterday, taking total cases globally to 43,103.

WHO has officially named the disease COVID-2019.

In London, lead soared 3.3% to $1856.25 per tonne after hitting an eight-month low on Monday.

Copper and nickel each gained more than 1%.

Base metals found support on reports Chinese construction and manufacturing activity was picking back up after Lunar New Year and the outbreak of coronavirus.

Meanwhile, the MySteel 62% Australian iron ore fines price fell 3% to $81.50/t, a new three-month low.

 
 
 
 
 

topics

loader