Gold shaky as virus concerns ease; Euro slips

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Gold struggled to shine on Wednesday as demand for safe-haven assets dropped on signs the spread of the coronavirus outbreak in China may be slowing.

A sense of optimism and hope that the worst of the virus outbreak may have passed is boosting global sentiment, with the pendulum swinging in favour of risk. The improving market mood should dim Gold’s allure with $1555 acting as the next key level of interest.

If bears can conquer $1555, the precious metal is likely to test $1535. Alternatively, should $1555 prove to be reliable support, Gold could stage a rebound back towards $1579… Read More:

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