Gold futures staged a dynamic recovery today. After trading to an intraday low this morning of $1684.20, selling diminished and buying was revitalized, taking gold pricing well above $1700 per ounce.

Gold futures basis the June 2020 Comex contract closed down $30.50 (-1.76%), and is currently fixed at $1705.10. The June contract traded to a low of $1700 before recovering slightly.

It seems highly probable that North America, as well as globally that new cases of the virus will begin to diminish day by day, week by week. Globally the data suggests that the world has hit the peak of new cases of Covid – 19.