1 TWO CITIZENS RECOVERED FROM CORONAVIRUS TO BE RELEASED FROM HOSPITAL WWW.MONTSAME.MN PUBLISHED:2020/03/30      2 50 BILLION CUBIC METERS OF NATURAL GAS POSSIBLY TO BE SUPPLIED ANNUALLY TO CHINA THROUGH MONGOLIA WWW.MONTSAME.MN PUBLISHED:2020/03/30      3 THE EUROPEAN UNION SUPPORTS ENVIRONMENTALLY FRIENDLY AND SUSTAINABLE PRODUCTION WWW.MONTSAME.MN PUBLISHED:2020/03/30      4 CHINA DONATES MEDICAL SUPPLIES TO MONGOLIA TO HELP FIGHT COVID-19 WWW.EN.PEOPLE.CN PUBLISHED:2020/03/30      5 STATEMENT BY THE PRIME MINISTER OF MONGOLIA WWW.BCMONGOLIA.COM PUBLISHED:2020/03/30      6 MONGOLIA’S SMALL-COUNTRY STRATEGY FOR CONTAINING COVID-19 WWW.THEDIPLOMAT.COM PUBLISHED:2020/03/30      7 GOVERNMENT UNVEILS MNT 5.1 TRILLION PLAN TO HELP THOSE AFFECTED BY COVID-19 WWW.MONTSAME.MN  PUBLISHED:2020/03/30      8 THROUGHPUT GROWS IN CHINA-MONGOLIA BORDER CUSTOMS DESPITE COVID-19 WWW.XINHUANET.COM PUBLISHED:2020/03/30      9 BILGUUN: DROP IN COPPER PRICE MAY AFFECT OTHER COMMODITIES WWW.ZGM.MN PUBLISHED:2020/03/27      10 CORONAVIRUS: US OVERTAKES CHINA WITH MOST CASES WWW.BBC.COM PUBLISHED:2020/03/27      COVID-19 ХАЛДВАРААС СЭРГИЙЛЭХ ХҮРЭЭНД ЭРҮҮЛ МЭНДИЙН САЛБАРТ 37.6 ТЭРБУМ ТӨГРӨГ ЗАРЦУУЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2020/03/30     МОНГОЛ УЛСЫН ГУРВАН БООМТООР НҮҮРС ЭКСПОРТОЛЖ БАЙНА WWW.EAGLE.MN  НИЙТЭЛСЭН:2020/03/30     1072 ХУВЬЦААНЫ НОГДОЛ АШИГТ ИРГЭН, ААН-ҮҮДЭД 199.7 ТЭРБУМ ТӨГРӨГ ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2020/03/30     ПЕТРОВИС ГРУППЭЭС COVID-19 ХАЛДВАРЫГ ИЛРҮҮЛЭХ 3,000 ШИРХЭГ ТҮРГЭВЧИЛСЭН ОНОШЛУУР ХАНДИВЛАЛАА WWW.EAGLE.MN  НИЙТЭЛСЭН:2020/03/30     БААР, ФИТНЕСС, СОЁЛ УРЛАГИЙН ГАЗРУУДЫГ ТҮР ХААХ ХУГАЦААГ ДӨРӨВДҮГЭЭР САРЫН 30 ХҮРТЭЛ СУНГАЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2020/03/30     26 МЯНГАН ИРГЭН, ААН-ИЙН ЗЭЭЛИЙН ЭРГЭН ТӨЛӨЛТӨД ДОГОЛДОЛ ҮҮСЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2020/03/30     ХӨСҮТ: 2 ИРГЭН ЭДГЭРСЭН УЧРААС ЭМНЭЛГЭЭС ГАРГАХААР БОЛСОН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/03/30     ШИВЭЭХҮРЭН БООМТООР НҮҮРС ЭКСПОРТОЛЖ ЭХЭЛЛЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/03/30     ОХУ МОНГОЛЫН НУТГААР БАЙГАЛИЙН ХИЙ ДАМЖУУЛАХ "СИБИРИЙН ХҮЧ-2" ТӨСЛИЙН ТЭЗҮ-ИЙГ ЭХЛҮҮЛНЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2020/03/30     ТУСГАЙ ҮҮРГИЙН ОНГОЦООР ИРСЭН ИРГЭДИЙН АЧААГ ӨНӨӨДРӨӨС ОЛГОЖ ЭХЭЛНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2020/03/30    

Gold price rockets more than $100 to seven-year high www.mining.com

The gold price rallied again in spectacular fashion on Tuesday, as panicked investors scramble for hard assets on the back covid-19 closures of mines and refineries and unprecedented monetary action by the US central bank.

On the Comex market in New York, gold for delivery in April, the most active contract, closed the session at $1,660 an ounce, up $93 an ounce compared to Monday’s close. Earlier in the day the metal rocketed by as much as $131 an ounce, or 8.4% , to just shy of $1,700 an ounce.

Tuesday’s surge beat yesterday’s record-setting one-day gain by a handy margin and brings gold’s gains so far this week to $150 an ounce.

Reuters quotes Goldman Sachs on Tuesday as saying inflationary concerns triggered by the central bank policy response to the coronavirus outbreak should underpin gold prices this year as the “currency of last resort.”

“Combined with the fiscal nature of the current policy response to covid-19, we believe physical inflationary concerns with the dollar starting near an all-time high will for once dominate financial asset inflation that was a feature of the past decade.”

CIBC analysts led by Anita Soni agreed that recent market events have created a buying opportunity for gold equities, Bloomberg reports:

“Near-zero interest rates, market uncertainty and ongoing liquidity injections, provides a bullish setup for gold and silver,” she said. This has created an “excellent opportunity to buy the dip across the sector.”

Gold has been on a wild ride over the past weeks, dropping as low as $1,450 an ounce a week ago after briefly hitting a seven-year high above $1,700 a week earlier.



Published Date:2020-03-25