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Gold Jumps 2% as Fed Bonanza Stalls Cash Rush

Tuesday, 24 March 2020 12:50 WIB GOLD EMAS

Gold rose 2% on Tuesday, extending gains from a near 4% surge in the previous session, after the U.S. Federal Reserve’s unprecedented measures to help an economy reeling from the coronavirus pandemic halted a rush for cash. Spot gold rose 1.3% to $1,573.17 per ounce by 0333 GMT. The metal rose 3.7% on Monday, its highest percentage gain since June 2016. U.S. gold futures rose 1.5% to $1,590.50. The U.S. central bank on Monday rolled out an extraordinary array of programs and will lend against student loans, credit card loans, and U.S. government backed-loans to small businesses. Source : Reuters

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