The price of gold has been holding in its February bullish correction with a high of $1,576.98 having travelled from a low of $1,568.13, +0.30% at the time of writing – futures ended the day higher for a fourth consecutive gain.
The economic impact on China due to the fast-moving outbreak of the coronavirus is taking its toll on investor’s risk appetite and safe-haven asset classes, such as the precious metals are underpinned due to the flows and lower rates of interest in the bond markets. Investors are more inclined to invest in gold at times of lower yield, especially when there are fragilities in global equity prices.
Capital Drilling Ltd (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.