Investors sell gold to cover losses on stock market

Gold falls this morning - at 10:05 on the Comex exchange cost a troy ounce fell 0.58% to $ 1,619.10. Investors decided to switch to liquidity amid the situation with coronavirus. The fall in stock indices continues due to concerns players by the global economic recession caused by the pandemic. In an effort to cover their losses on exchanges, investors withdraw cash by closing positions in gold. According to CMC Markets, quoted by Reuters, they haven't stopped consider gold as a reliable asset, however, in the case further deterioration of the economic situation in the world, it may use to replenish funds. On Friday, major US stock indexes closed lower by 3-4% against the background of negative economic statistics. Index confidence in the American economy in March fell by 1.9%, which became the strongest decline since the 2008 crisis. Growth the number of initial jobless claims turned out to be a record for the entire history of observations - for the week from March 16 to March 21, they increased by more than 3 million.