Downside Capped In Gold Following Surge In Risk Aversion

Published on May 06, 2022 17:21

Weakness in equities is capping downside in Gold. Asian markets slipped sharply. European stock markets extended losses with major indices sliding around 1%. The US stocks slumped with the tech-heavy Nasdaq plunging to its lowest closing level in well over a year. Bitcoin also fell sharply and overall risk aversion is supporting Gold now. Gold is currently trading $1883 per ounce, up 0.41% on the day.