Gold eased on Friday as some investors booked profits after prices hit a two-week high in the last session amid hopes for further stimulus to curb the coronavirus™ economic toll, but the metal was headed for its best weekly gain in more than 11 years.
Spot gold slipped 0.5% to $1,621.07 per ounce by 0035 GMT, having risen to its highest since March 12 on Thursday.
The metal was up 8.2% for the week, its biggest since December 2008, on weak U.S. unemployment data and the Federal Reserve™s...
Gold prices dropped on Friday in Asia as equities rebounded.
Gold Futures for April delivery on the Comex exchange slid 0.7% to $1,640.05 by 12:55 AM ET (04:55 GMT).
Despite the losses today, gold prices still traded sharply higher this week, gaining over 8% and heading for its biggest weekly gain in over a decade as the total number of coronavirus cases across the world continued to rise.
The U.S. has now overtaken China for the most confirmed cases worldwide, as infections in New York...
Gold futures pulled back Friday, but remained on track for the biggest weekly rise in more than 11 years in a rebound fueled in part by a weaker U.S. dollar and concerns about disruptions in the physical market.
Gold for April delivery on Comex fell $33.30, or 2%, to $1.617.90 an ounce, while May silver dropped 22.6 cents, or 1.7%, to $14.45 an ounce. For the week, gold is up nearly 9%, which would mark the biggest weekly rise since December 2008, according to FactSet.
A retreat by the U.S....