Corona virus news:
Japan's health ministry said Thursday that the country had more than 500 new cases for the first time on Wednesday, bringing the national total to 4,768 excluding hundreds from a cruise ship quarantined near Tokyo earlier this year.
The continuous climb comes two days after Prime Minister Shinzo Abe declared a state of emergency in Tokyo and six other hard-hit prefectures, while asking people to reduce at least 70% of human interactions.Speaking in parliament on Thursday morning, he defended his government's handling of the Covid-19 crisis and said the continuing lockdown, which has been in effect since 14 March, was the best way to tackle contagion
Technical analysis:
Gold has been trading upwards. The price tested the level of $1.664. The important pivot is set at the price of $1.674. Watch for the price action at the important pivot to confirm further direction.
The eventual failures to test or break the pivot resistance at $1.674, may lead Gold downside towards the levels at $1.64 and $1.618.
The eventual upside breakout of the resistance at $1.674 may lead the Gold towards the level at $1.700.
Stochastic oscillator is showing fresh upside flimp, which is indication of the upside cycle.
Resistance levels are set at the price of $1.674.
Support levels are set at the price of $1.640 and $1.618.