Gold futures rallied on Tuesday to log their highest finish since late March 2013, with analysts attributing the rise to expectations for central bank stimulus as the spread of COVID-19 raised concerns about the global economy.
April gold rose $17.20, or 1.1%, to settle at $1,603.60 an ounce. That was the highest most-active contract settlement since March 27, 2013, FactSet data show.
Source : MarketWatch
Gold futures climbed on Wednesday for a fifth consecutive session, marking another settlement at their highest since March 2013, with strength in U.S. equities failing to pressure prices for the haven metal.
"I believe retail investors are pouring into equities, while institutional investors are a little more cautious and seeking safe haven exposure," said Jeff Wright, executive vice president of GoldMining Inc.
April gold rose $8.20, or 0.5%, to settle at $1,611.80 an ounce, ahead of the...
Gold prices held steady above the key $1,600 mark on Wednesday as an uptick in equities due to a drop in new virus cases was kept in check by fears about the economic fallout of the epidemic.
Autocatalyst metal palladium, meanwhile, scaled yet another record peak on a sustained supply shortfall.
Spot gold was little changed at $1,601.77 per ounce by 0244 GMT. In the previous session, bullion prices surged 1.3% to their highest since Jan. 8 at $1,605.10.
U.S. gold futures were up 0.1% to...
Oil prices were little changed on Tuesday, pressured by concerns over the impact on crude demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market.
Brent crude was up 8 cents at $57.75 per barrel. U.S. West Texas Intermediate crude futures settled unchanged at $52.05. Earlier in the session WTI fell to a session low of $51.15 per barrel.
Though new cases of the coronavirus in mainland China have dipped, global experts said it was...
Gold climbed towards a seven-year peak on Wednesday as concerns over the global economic impact of the coronavirus epidemic boosted safe-haven interest, while palladium resumed its record rally driven by concerns over a supply shortfall.
Spot gold rose 0.5% to $1,609.63 per ounce. The metal jumped to $1,610.72 earlier, its highest since Jan. 8, when gold hit its highest in nearly 7 years. U.S. gold futures rose 0.6% to $1,612.90.
Bullion held firm even as European shares hit a fresh record...