Gold falls as investors opt for cash amid deepening virus fears

From reuters.com

Gold prices fell on Monday as a flight to cash to cover losses in equities overshadowed measures by global central banks to contain the economic fallout from the coronavirus epidemic. Spot gold was down 0.3% at $1,612.60 per ounce by 0635 GMT after Friday's 0.7% drop. U.S. gold futures fell 0.6% to $1,643.70 per ounce. "The worse the situation gets the stronger the link between stocks and gold, because if we see further economic deterioration that will drag gold down with the share markets," said Michael McCarthy, chief strategist at CMC Markets. Asian shares slid and oil prices took another tumble on worries ... (full story)