Growing strength in Gold futures show the rising volatility in global equity markets. Two reasons for volatility in global equities: the impact of COVID-19 and rising tensions between the U.S. and China. These geopolitical uncertainties may extend exhaustion in equity markets for a long time to come.
There is no doubt that after the reopening of economic and social activities, investors will continue to eye the numbers of infected people. However, even if there is a successful biological cure for the disease, I find that the stigma and lasting impact associated with COVID-19 may exist for a longer duration, even after the invention of a successful biological cure for the disease.
U.S.-China trade tensions could provide more uncertainty to global equity markets. A longer disruption of the global supply chain may continue to extend volatility in S&P 500 Futures for a long duration. 
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