Gold Prices Gain Today After Sharp Fall in Previous Session

Gold prices gained on Monday in Asia amid lingering fears surrounding the global coronavirus outbreak and hopes of a rate cut the U.S. Fed.

Gold Futures for April delivery gained 2.4% to $1,603.90 by 1:45 AM ET (05:45 GMT). The gains of the safe-haven metal came even after Asian equities rebounded today, with Chinese stocks up more than 4%.

However, the latest PMI figure in China showed manufacturing activities in February contracted at the fastest pace ever, raising fears of a global recession from coronavirus.

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