Gold bounces sharply higher after biggest daily drop in nearly 7 years

From marketwatch.com

Gold futures were rebounding Monday morning after the precious metal saw the sharpest weekly drop since 2013, with central banks promising to act appropriately to mitigate the effect of a viral outbreak that is expected to hurt global economies and supply chains. Bank of Japan Gov. Haruhiko Kuroda said the central bank would take steps to steady markets, and bolster liquidity through short-term lending operations and asset purchases. On Friday, Fed Chairman Jerome Powell issued a rare, unscheduled statement, emphasizing the central bank’s intention to act appropriately to address the risks posed by the coronavirus. ... (full story)