Gold Tips Today – BUY Gold Jun at CMP 45480 with Small SL 45399 for Target 45580 – 45680 – 45740
Gold prices slipped on Tuesday as risk sentiment was lifted by easing coronavirus restrictions, while brewing tensions between the United States and China over the outbreak kept the safe-haven metal near the key $1,700 per ounce level. Italy and the United States were among a slew of countries tentatively easing coronavirus lockdowns on Monday to revive economies as global deaths surpassed a quarter of a million. The Trump administration is “turbocharging” an initiative to remove global industrial supply chains from China as it weighs new tariffs to punish Beijing for its handling of the coronavirus outbreak, according to officials familiar with U.S. planning. An internal Chinese report warns that Beijing faces a rising wave of hostility in the wake of the coronavirus outbreak that could tip relations with the United States into confrontation, people familiar with the paper told Reuters. New orders for U.S.-made goods suffered a record decline in March and could sink further as disruptions from the novel coronavirus fracture supply chains and depress exports. Two of the world’s biggest gold refiners, Valcambi and Argor-Heraeus, are restoring almost all operations after Switzerland relaxed lockdown measures, they said on Monday. SPDR Gold Trust, the world’s largest gold-backed exchangetraded fund, said its holdings rose 0.4% to 1,071.71 tonnes on Monday from 1,067.90 tonnes on Friday.