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 climbed to a two-week high on Tuesday as investors sought safe havens after a revenue warning from iPhone maker Apple due to coronavirus, exacerbating fears of the outbreak's impact on global economic growth.
Spot gold was up 0.4% at $1,587.06 per ounce, having earlier risen to its highest since Feb. 3 at $1,589.40. U.S. gold futures inched up 0.3% to $1,590.20.
Gold is considered a hedge against risks from political and economic turmoil.
Apple's warning that its sales would fall short...
Gold rose to a two-week high on Tuesday, spurred by demand for safe-havens after iPhone maker Apple Inc™s revenue warning underscored the financial fallout of the coronavirus epidemic in China.
Spot gold was up 0.4% at $1,586.32 per ounce as of 0246 GMT. Earlier in the session, prices touched their highest since Feb. 3 at $1,586.90.
U.S. gold futures inched up by 0.2% to $1,589.30.
Apple is one of the largest Western firms to be hurt by the epidemic.
It said manufacturing facilities in...
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 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...