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 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...
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 traded near the highest level since 2013 on concerns over the spread of the new coronavirus and how it™s impacting global growth. Palladium continued it™s record-breaking rally.
Bullion steadied after surging 1.3% Tuesday™s as Apple Inc.™s warning that the virus and efforts to contain it would have its sales missing forecasts spurred a sell off in stocks. China™s death toll from the disease topped 2,000, while the province at the center of the...