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 futures climbed on Thursday for a sixth consecutive session to log their highest settlement since February 2013.
"Coronavirus fears magnetized investors towards safe-haven assets," said Lukman Otunuga, senior research analyst at FXTM. "With the virus outbreak fostering uncertainty, unease and anxiety across the board, gold is set to shine through the chaos."
April gold rose $8.70, or 0.5%, to settle at $1,620.50 an ounce.
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...
Gold edged lower on Thursday after China announced more measures to limit the economic impact from coronavirus epidemic, although a rise in number of new cases in South Korea kept bullion close to a near seven-year peak.
Spot gold was down 0.1% at $1,610.31 per ounce. U.S. gold futures rose 0.1% to $1,613.30.
Gold rose to its highest since March 2013 at $1,612.62 in the previous session on concerns of the economic impact of the virus outbreak.
Source : Reuters
Gold prices inched up on Wednesday as traders await the U.S. Federal Reserve™s minutes of its latest meeting, which is due later in the day.
Gold Futures for April delivery gained 0.2% to $1,607.25 by 1:45 AM ET (05:45 GMT).
The yellow metal gained more than 5% so far this year is now near its highest level since 2013. Fears of the new coronavirus and its impact on global growth pushed the safe-haven metal higher, while speculation that the Fed might reduce interest rates were also cited...