The Chinese mysteriously decided to change the methodology of identifying the virus cases and deaths and suddenly there are over 15k of new cases and even more surprisingly 250 new deaths. While markets were increasingly ignoring this theme over the past few days, there were question marks regarding authenticity of the Chinese data. One reaction worth paying attention to is gold where price is moving up using a trend-line. We saw that a similar creep up led to a sharp move higher late in December.
Coronavirus counts soared as the Chinese decided to change “methodology”. Source: worldomteres