Gold price shines
THE price of gold on international spot markets has risen above US$1600/oz, marking its highest level since March 2013, on gathering concerns about weakening economic conditions in China. Gold was trading at US$1601/oz at 11.30 am Western Standard Time, Wednesday, according to gold analysis website Kitco. Investor sentiment around gold turned bullish in early 2020, with the price of gold taking off from its US$1480/oz launchpad at Christmastime 2019. Iconic technology company Apple issued a business revenue warning during the US stock market’s Tuesday trading session. In a quarterly update to investors, the technology company said concerns around the Covid-19 virus outbreak in China is affecting business conditions there. “Work is starting to resume around the country [after China’s Lunar…