[SMM Review] Gold showed an overall upward trend in the first quarter. After the epidemic hit, the market is still bullish on gold.

SMM4 25: since 2019 gold has maintained an upward trend, the first quarter of 2020 overall showed a rising momentum, of which gold in January trading for the second month in a row. The gold market in January was set against the backdrop of a typically strong phase. Overvalued stock markets are teetering, global economic growth has slowed sharply and political uncertainty has worsened. Gold prices have largely rallied as investors worry about the possible impact of the new crown pneumonia on the global economy, helping to make gold more attractive as a traditional safe haven asset and prompting investors to avoid buying risky assets, including stocks. Gold closed at $1593.4 an ounce in New York in January.

In February, the number of domestic virus infections gradually rose, public health risk events led investors to be bearish on the outlook for global demand, and investors were worried about the possibility of an expanded coronavirus epidemic and its potential negative impact on the global economy. The attribute of gold risk aversion is gradually magnifying. Gold rose more and more in February. As gold became more and more valued by the market, gold ushered in an adjustment at the end of the month. In February, the main price of gold in New York closed at $1587.3 an ounce.

In March, the epidemic reached its peak at home, and the price of gold continued to rise, but the foreign epidemic in China has not been effectively controlled within the time it has won. The foreign epidemic is serious, the capital market has collapsed, and the US stock market has collapsed many times in a short period of time. Under the influence of the stock market trading margin, investors began to liquidate gold and increase the margin of US stocks, causing gold to fall sharply in March. As U. S. stocks gradually returned to a stable trend, gold's risk aversion also slowly emerged, gold began to rise in late March. But there was a pullback at the end of the month. It rose more than 1700 points in March before closing at $1591.1 an ounce in New York in March.

Gold prices soared after a sharp pullback in March as the US outbreak entered an outbreak in April and demand for gold continued to expand.

With gold prices rising and spot trading at $1728, Kitco Gold analyst Gary Wagner expressed his expectations for the future of gold prices. According to Gary Wagner's team, gold could trade as high as $1880 an ounce by the end of the year. More importantly, by the second quarter of 2021, gold will break a record high of $1900 and trade at $2, 000-2, 300 an ounce.

Gold has been favored by investors during periods of rising political and economic uncertainty because it is seen as a hedge against inflation and currency devaluation and tends to benefit from a wide range of central bank stimulus measures. The outbreak has prompted many governments and central banks around the world to launch unprecedented fiscal and monetary policy support.

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