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Gold Prices Extend Rally, Surge by Most in 11 Years Amid Tight Supplies and Regime of Limitless Stimulus
Tuesday, 24 March 2020 20:05 WIB | PRECIOUS METALS |EMASGOLD

Gold prices were on track to surge by the most in more than a decade as the precious metal extended its rally to start the week, following the closure of gold mining operations and moves by the Federal Reserve to address the coronavirus crisis.

Gold for April delivery on Comex was up $103.40, or 6.6%, at $1,671, after the yellow metal booked a 5.6% gain, pushing the commodity to its highest trading level since early February, according to FactSet data. The percentage gain, if it holds, would represent the largest since March 19, 2009, according to FactSet data.

In a bullish Tuesday research note, analysts at Goldman Sachs described the commodity as the "currency of last resort" and said that the market volatility tied to the outbreak of COVID-19, the infectious disease that has caused a shutdown in much of the world, will help drive prices of bullion higher.

Source : Marketwatch

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