Gold drops as markets come back to life
Gold prices tumbled in early Asian trading on May 5. Investors are once again becoming less risk-averse as countries across the world are beginning to ease the quarantine measures.
By 05:37 GMT Gold futures tumbled 0.52 and stood at US$1704.40. Italy and the United States began to partially reopen their economies. Stocks, tending to develop in the opposite direction, saw significant gains.
Swiss gold companies Argor-Heraeus and Valcambi stated that they almost returned to the pre-pandemic shape. Switzerland eased some of the containment measures on May 4.
The markets are soured only by the ongoing tensions between the United States and China. The nations are fighting over the reasons for the coronavirus emergence and spread. President Trump’s threats to reintroduce trade tariffs prevented the gold from falling further.