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Gold Heads for Weekly Advance on Growth Fears, Virus Resurgence

Friday, 12 June 2020 18:32 WIB GOLD EMAS

Gold headed for the first weekly gain in four after concerns of a protracted economic recovery and a second wave of coronavirus infections aided demand for haven assets. The global economy is recovering more slowly than expected from the pandemic and will bear lingering scars from the experience, according to the International Monetary Fund. The U.K. economy shrank a record 20.4% in April as businesses and workers reeled under lockdown. Bullion has rallied 14% this year as the health crisis prompted governments and central banks to unleash vast amounts of stimulus. On Wednesday, the Federal Reserve signaled it will keep pumping stimulus into the U.S....

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Energy

Crude-oil prices headed higher Thursday for a second session, as values continued to garner support from a bullish report on U.S. stockpiles this week. The Energy Information Administration

Precious Metals

Gold futures inched higher Thursday ahead of employment data in the U.S. that could influence trading in the precious commodity, a day after hope for a vaccine and a rally in stocks eroded appetite

CURRENCIES

The U.S. dollar slipped to a one-week low against its rivals on Thursday as upbeat U.S. and European economic data sharpened risk appetite, with hopes for a COVID-19 vaccine breakthrough also

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