Gold Down on Back of Increased Investor Hopes of Global Economic Recovery….LIVE NEWS UPDATE BY ROYAL TRADERS


Gold was down on Wednesday morning in Asia with increased investor optimism over the global economic recovery from the COVID-19 virus as countries continue to loosen lockdowns and restart their economies.

Gold futures were down 0.25 % at $1,729.60 by 1:28 AM ET (6:28 AM GMT) with investors retreating from the safe-haven yellow metal.

Stocks, which usually move in the opposite direction to gold, were up on Wednesday.

But the pandemic is far from over, with almost 6.4 million global cases as of June 3 according to Johns Hopkins University data and the race for a cure still ongoing.

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