Gold Prices Drops from Two-Week Highs to Stay Below $1,650 Level

Friday, 27 March 2020 13:58 WIB



Gold prices dropped on Friday in Asia as equities rebounded.

Gold Futures for April delivery on the Comex exchange slid 0.7% to $1,640.05 by 12:55 AM ET (04:55 GMT).

Despite the losses today, gold prices still traded sharply higher this week, gaining over 8% and heading for its biggest weekly gain in over a decade as the total number of coronavirus cases across the world continued to rise.

The U.S. has now overtaken China for the most confirmed cases worldwide, as infections in New York surged.

Prior to the fall today, the yellow metal attracted some safe-haven demand overnight and gained about 1% after the Labor Department reported a record 3.28 million Americans filed for first-time unemployment benefits, signalling that the labor market could take a lot longer than anything afforded by the stimulus.

Source :


  • Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment. Spot gold was down 0.2% at $1,722.93 per ounce, as of...
  • Gold futures on Tuesday posted a second consecutive session decline, with profit-taking and strength in global stock markets the key reasons cited among analysts for the fall in prices. U.S. unrest an...



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