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Major precious metals pushed higher on Monday following a coronavirus-fueled plunge in prices on Friday, which saw gold slide the most since 2013. Despite its status as a safe-haven asset, gold along with other metals joined stocks in last week's freefall which was sparked by a surge in new cases of the virus outside of China.

Gold jumped 1.38% to $1,602.09 per ounce at 2:20 am ET, while in euros the valuable metal advanced 1.21% €1,448.16. Silver gained 2.14% to $16.97 at the same time, while platinum climbed 1.65% to $878.12 an ounce. Palladium was up 1% to $2,617.10 per ounce following Friday's double-digit drop.

Breaking the News / JC

Gold fell considerably after 4:30 on Friday so I’m not sure any rise this morning will be that great, still it’s good to see upward pressure bearing on the down.

European stock markets were higher in premarket trade on Monday, showing signs of recovery after last week's selloff caused by the spread of the coronavirus. Yesterday, Italy revealed that it will dedicate €3.6 billion to counter the novel coronavirus (COVID-19) outbreak in the country. Meanwhile, the World Health Organization's (WHO) Director-General Tedros Adhanom Ghebreyesus stated that "global markets should calm down." The global virus death toll exceeded 3,000 after the latest reports from China.

The DAX gained 1.22% at 8:01 am CET. London's FTSE 100 increased by 1.69% concurrently, while the CAC 40 rose by 1.37% at 8:02 am CET.

The euro was flat compared to the dollar at 8:02 am CET, trading at 1.10418. The British pound advanced 0.15% against the American currency, going for 1.28394 at the same time.

Breaking the News / MS

Crude futures jumped 3% on Monday, recovering some of the sharp losses suffered last week amid concerns of the impact of the coronavirus on the oil market. However, crude rebounded on hopes OPEC and its allies will agree to deepen production cuts when they meet later this week in Vienna in an effort to tackle the decline in oil demand caused by the outbreak of the COVID-19.

Over the weekend, Russian President Vladimir Putin said Moscow is ready to continue cooperation with the cartel as the output cuts have "proved to be an effective tool for ensuring long-term stability on global energy markets."

Brent for settlements in May rallied 3.38% to sell for $51.33 per barrel at 1:33 am ET and West Texas Intermediate (WTI) for April delivery rose 3.04% to go for $46.12 per barrel at 1:26 am ET.

Breaking the News / NP

Goldman Sachs said on Friday it expects that the Federal Reserve cuts the interest rate by 75 basis points in the first half of the year, starting with 25 basis points cut in March.

Regarding global growth, Goldman forecasts it will hover around 2%. The company added that if mitigation efforts fail, a global recession could become an option. The company also said the spreading coronavirus might slice 0.5 percentage points off global growth in the first and 0.2 percentage points in the second quarter.

Earlier this week, Goldman Sachs cut the United States GDP growth forecast for the first quarter of 2020 by 0.2 percentage points to 1.2%, citing a worsening situation with the coronavirus outbreak and higher inflation.

Breaking the News / TF

When it does there’s gonna be one hell of a rally.

Down over 3% currently at $1587

When the downward pressure will give way to the upward. When the investors start to get frightened of not owning stocks at these ridiculously low prices, that there is eminent danger of reverse momentum... at this point the flu virus will be forgotten about.

In the meantime they have just cancelled the Geneva motor show due to the coronavirus

When the downward pressure will give way to the upward. When the investors start to get frightened of not owning stocks at these ridiculously low prices, that there is a danger of eminent reverse momentum... at this point the flu virus will be forgotten about.

I think it’s raining heavier on Centamin that it should be.

Equities on European markets sank in premarket on Friday, continuing poor-trading week following rising concerns over the spreading of coronavirus across the continent.

The death toll from the virus climbed over 2,850 globally while it reached 17 in Italy, European epicenter of the outbreak, with the World Health Organization asserting that the world reached a "decisive point" in the fight against the infection.

The International Monetary Fund (IMF) is considering reducing its outlook for global economic growth amid the coronavirus effect on the global economy. Nevertheless, European Central Bank (ECB) President Christine Lagarde claimed it's still unnecessary for the central bank to adjust its monetary policy in an attempt to weather the woes caused by COVID-19.

The DAX slumped 4.54% or over 500 index points at 7:38 am CET. Meanwhile, the FTSE 100 and the CAC 40 fell 3.98% and 3.32% at the same time, respectively.

The euro was up by 0.11% against the dollar, going for 1.10056 at 7:41 am CET.

Breaking the News / GA

Dare I say it...

Happy Friday y’al

At least all we have to do is wait this out as Centamin has decent revenues. The likes of Tullow oil have large debt to secure and oil is dropping relentlessly.
The market and investors need to refrain from trading

The FTSE is down 3 1/4%

...another couple of days like this and shares valuation will be back to where it was a fortnight ago.

European stocks traded lower in the premarket on Thursday, with the DAX sinking over 300 points due to the beginning of the coronavirus outbreak in Germany. Gilead Sciences informed that, in an attempt to find a cure, it will start testing its drug Remdesivir on patients in March. In business news, Standard Chartered reported a 6% loss to its annual net interest income.

The DAX plunged 2.63% at 7:30 am CET, while the FTSE 100 dropped 2.56% at the same time.

On the other hand, the euro gained 0.23% against the dollar to go for $1.09105 and the pound increased by 0.15% compared to the greenback, changing hands for $1.29282 at 7:34 am CET.

Breaking the News / ND

The United States retail giant Walmart said on Wednesday that it is in talks with a "small number of interested parties" regarding possible selling off its majority stake in the United Kingdom's supermarket chain Asda.

In their joint statement, the companies said that they "are currently considering whether there is an opportunity for a third party to invest in Asda, alongside Walmart, in order to support and accelerate the delivery of Asda’s strategy and position Asda for long term success."

The decision came after last year UK regulators refused Walmart's plan to merge Asda with another UK chain - Sainsbury's because they said it would raise consumer prices.

Breaking the News / TF

The United States retail giant Walmart said on Wednesday that it is in talks with a "small number of interested parties" regarding possible selling off its majority stake in the United Kingdom's supermarket chain Asda.

In their joint statement, the companies said that they "are currently considering whether there is an opportunity for a third party to invest in Asda, alongside Walmart, in order to support and accelerate the delivery of Asda’s strategy and position Asda for long term success."

The decision came after last year UK regulators refused Walmart's plan to merge Asda with another UK chain - Sainsbury's because they said it would raise consumer prices.

Breaking the News / TF

Sorry typo.... The Dow, the NASDAQ and the S&P 500 are all UP over 1%

... And the FTSE 100 has just entered positive territory.

Pre market is green.

...plus as of last week it has a new higher trading range.