Listen to the latest market mood for the coming session.

The world’s stock markets have once again taken heavy falls heading into the weekend, due to fears that the coronavirus outbreak is spreading into a global pandemic. As a result, we have seen strong risk-off moves in the market. Gold looks set to test $1700 highs and beyond today on a weak dollar, record low 10-year Treasuries, and large safe haven moves.


  • Expect a risk-off market today with a buyer into gold at market and pullbacks.
  • Risk-off flows = JPY, CHF, Gold buying and AUD, NZD, CAD, and oil selling.

Risks to this outlook

Watch out for positive news about the Coronavirus being contained to change this outlook. Also, there is an outside chance that very heavy equity losses prompt gold profit-takers as investors offset equity losses with profitable gold positions (as allegedly happened last Friday).