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Gold Extends Gains on Hopes of US Stimulus Package


Wednesday, 25 March 2020 09:39 WIB

GOLDEMAS


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Gold rose for a third straight session on Wednesday, hitting its highest in about two weeks, as positive rhetoric from U.S. lawmakers regarding a stimulus bill to cushion the economic damage from the coronavirus outbreak lifted investor sentiment.

Spot gold was up 0.9% at $1,624.18 per ounce by 0038 GMT, after rising as much as 1.6% to $1,635.79 earlier in the day — its highest since March 12. The metal jumped more than 3% in the previous session.

U.S. gold futures climbed 1.6% to $1,687.30.

Senior U.S. Democrats and Republicans said on Tuesday they were close to a deal on a $2 trillion stimulus package to limit the pandemic’s economic toll.

Source : Reuters


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