Markets Awaken: US Stocks Crash 11%
Precious Metals Commentary (week ending 28th February 2020)
The US stock market finally woke up to coronavirus risk with the S&P 500 crashing 11.60% in less than a week, and gold jumping to highs of $1,687. Silver fell back this week to $17.80 given 18% of annual fabrication demand comes out of China. With the Australian dollar down over 6% this year to fresh lows at 0.656, local gold prices were a tick above $2,500 and silver at $27.10.
This week, we look at:
- Coronavirus’ impact on the Australian economy
- With other countries resorting to cash handouts, is Australia next?
Read the full report by ABC Bullion's John Feeney and Bron Suchecki here.