Gold prices fall as some countries relax restrictions associated with coronavirus

Gold prices fell today as measures by some countries to ease restrictions associated with the Corona virus overshadowed concerns about deteriorating relations between Washington and Beijing and reduced demand for gold.

And gold fell in spot transactions 0.1% to $ 1,700.14 per ounce at 05:24 GMT, while it fell in future US trade by 0.4% to $ 1706.10 per ounce.

Italy and the United States joined a group of countries that eased isolation measures on Monday to revive their economies.

However, investors remain concerned about the escalation of tensions between China and the United States after United States President Donald Trump threatened new tariffs on China due to his handling of the Corona virus outbreak.

Gold, which is an alternative source in times of political and economic crisis, rose 18% last year as a result of the tariff war and interest rate cuts in the United States.

Gold also gained 12% from the beginning of the year, with the United States Federal Reserve keeping interest rates close to zero and generating trillions of dollars in urgent funds for the financial markets in the United States.

In addition to the United States, central banks and other countries have taken similar measures to stimulate economies affected by the virus.