News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
Real Time News
  • Heads Up:🇪🇸 Unemployment Change (FEB) due at 08:00 GMT (15min) Previous: 76.2K
  • #Bitcoin, #Ethereum Forecast: BTC/USD, ETH/USD Bullish Reversal at Hand? - $BTC $ETH $BTCUSD $ETHUSD
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here. #DailyFXGuides
  • 🇩🇪 Retail Sales YoY (JAN) Actual: -8.7% Expected: 1.3% Previous: 2.8%
  • 🇩🇪 Retail Sales YoY (JAN) Actual: -8.7% Expected: 1.3% Previous: 1.5%
  • 🇬🇧 Nationwide Housing Prices YoY (FEB) Actual: 6.9% Expected: 5.6% Previous: 6.4%
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • Heads Up:🇬🇧 Nationwide Housing Prices YoY (FEB) due at 07:00 GMT (15min) Expected: 5.6% Previous: 6.4%
  • Heads Up:🇩🇪 Retail Sales YoY (JAN) due at 07:00 GMT (15min) Expected: 1.3% Previous: 1.5%
  • We kicked off this new week and month with a bounce in risk trends, but far from convincing of systemic reversal. Meanwhile, 'taper tantrum' interest/fears have charged even higher. What I'm watching ahead:
Gold Prices Suffer Worst Daily Decline Since 2013, Virus Fears Forefront

Gold Prices Suffer Worst Daily Decline Since 2013, Virus Fears Forefront

Thomas Westwater, Analyst

Gold Talking Points:

  • Gold suffers worse intraday drop since 2013
  • Equities hammered as gold drops in rare correlation
  • Recent support eyed to stem further gold losses

Risk aversion in markets hit a fever pitch in recent days as coronavirus fears inject worry over the global economies’ ability to weather its impact. Despite the severe move seen across markets today, prompted by increasing concerns over the coronavirus, gold sold off along with equities to defy its more common negative correlation with the growth-sensitive asset class.

Spot Gold (1-Min Chart)

Gold 1 minute chart

In recent months, gold has strengthened considerably and approached overbought conditions prompting traders to look for near-term consolidation. Spot gold started the week higher, gapping up in Sunday night trading to $1660.11, but began trading lower through the week. Friday saw the biggest intraday selloff in the yellow metal since 2013, as it dropped over 3.5 percent intraday.

Gold historical 1 day percent change

Currently sitting at $1584.40, support from consolidation formed throughout January and February could buoy price from a further move down in the short term. Furthermore, continued deterioration in market sentiment could prompt gold to fall further as investors rotate capital into highly liquid assets such as cash and US treasuries.

Gold Forecast
Gold Forecast
Recommended by Thomas Westwater
Get Your Free Gold Forecast
Get My Guide

Spot Gold (Daily Chart)

Daily spot gold chart

--Written by Thomas Westwater, Intern Analyst for

Contact and follow Thomas on Twitter @FxWestwater

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.