Saturday, 04 April 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Gold Extends Rise as Fed Ramps Up Monetary Stimulus Amid Coronavirus Outbreak
Monday, 23 March 2020 20:52 WIB | PRECIOUS METALS |EMASGOLD

Gold futures headed higher on Monday, extending gains after the Federal Reserve unveiled an aggressive round of additional stimulus, including virtually unlimited purchases of Treasurys and mortgage-backed securities.

Gold had initially gained ground as global stocks traded lower on continued worries over the tremendous economic hit expected from the global COVID-10 pandemic. Gold extended gains, however, as U.S. stock-index futures turned higher in the wake of the Fed move.

The precious yellow metal, however, has faced some friction as a haven asset, as cash-strapped investors have been forced at times to sell bullion amid the persistent global rout in financial markets that has knocked most markets into bear-market territory. A strengthening dollar also has weighed on the price of precious metals, as the cases of the infectious disease that was first identified in Asia in December accelerates.

Gold for April delivery on Comex rose 2.4% to $1,590 an ounce, after putting in a weekly decline for the most-active contract of 2.1%, according to FactSet data. May silver jumped 4.2% to $12.90 an ounce, after a weekly decline of 14.6%. Prices last Wednesday settled at the lowest since January 2009.

Source : Marketwatch

RELATED NEWS
Gold Ends Higher after U.S. Jobs Report, but Posts a Loss for The Week...
Saturday, 4 April 2020 01:25 WIB

Gold futures ended higher on Friday after a report on U.S. employment in March indicated that the damage from coronavirus related business shutdowns is already having a big impact on the labor market....

Gold Bounces Around As Investors Key In On Friday Jobs Report...
Friday, 3 April 2020 20:04 WIB

Gold futures on Friday swung between small gains and losses as investors watched for a report on the labor market in March, which may offer some clues about the state of American jobs even if it doesn...

Gold Eases on Firm Dollar, But Holds Tight Range Ahead of US Data...
Friday, 3 April 2020 17:39 WIB

Gold prices were subdued on Friday as the dollar strengthened, but they were stuck in a narrow range ahead of U.S. nonfarm payrolls data that could provide further clarity on the economic damage from ...

Gold slips on firm dollar, poor U.S. data limits losses...
Friday, 3 April 2020 09:44 WIB

Gold inched down on Friday after rising 1.4% in the previous session as the U.S. dollar firmed, but record high weekly U.S. jobless claims filings kept a check on bullion™s downside. Spot gold ease...

Gold Futures End Higher as Weekly Jobless Claims Climb to Record...
Friday, 3 April 2020 01:29 WIB

Gold futures ended higher on Thursday, with the haven metal getting a boost on the heels of a climb in U.S. weekly jobless claims to a record 6.6 million. The move for gold followed four consecutive ...

LATEST NEWS
Hong Kong Stocks Head Into Weekend With a Loss (Review)

Hong Kong shares finished Friday with losses, in line with an Asia-wide sell-off, after data showed a massive 6.7 million Americans last week applied for unemployment benefits as the coronavirus shatters the global economy. The Hang Seng Index...

Dow closes more than 350 points lower as job losses hit an 11 year high

U.S. stocks closed lower Friday as investors assessed the economic damage wrought by the coronavirus epidemic, after the Labor Department reported the U.S. economy lost more than 700,000 jobs in March, and that the unemployment rate rose to a near...

U.S. oil prices climb by nearly 32% for the week

Oil futures climbed on Friday, with U.S. prices tallying a weekly gain of almost 32%. Prices extended their Thursday rally on growing expectations that major oil producers will reach an agreement to significantly cut production levels as efforts to...

POPULAR NEWS
Gold Down 4th Straight Session as Traders Cast a Wary Eye on Economic Data Amid Coronavirus Spread
Thursday, 2 April 2020 01:46 WIB

Gold futures on Wednesday started the month with a loss, stretching their decline to a fourth straight session, as traders cast a wary eye on the...

Gold Futures End Higher as Weekly Jobless Claims Climb to Record
Friday, 3 April 2020 01:29 WIB

Gold futures ended higher on Thursday, with the haven metal getting a boost on the heels of a climb in U.S. weekly jobless claims to a record 6.6...

Gold Attempts To Bounce Higher To Start April, Second Quarter Amid Coronavirus Spread
Wednesday, 1 April 2020 20:22 WIB

Gold futures were attempting to regain some traction higher on Wednesday to start the new month and quarter, amid expectations of increasingly poor...

Gold Prices Up Amid Fears of Unending Economic Turbulence
Thursday, 2 April 2020 09:33 WIB

Gold prices in Asia were up on Thursday as investors prepare for continuous economic turbulence. Gold futures were up by 0.41% at $1,598 by 10:21...