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Gold Suffers in Rough Start to the Week With Dollar Winning Out

Monday, 23 March 2020 08:29 WIB GOLD EMAS

Gold dropped again as investors buckled in for yet another volatile week of trading, with the dollar extending its record-setting ascent after the global death toll from the coronavirus pandemic surged and governments battled to address the mounting crisis. Gold has fallen as the pandemic intensified, capping back-to-back weekly losses on Friday. Despite efforts by governments to protect their economies, the outlook is darkening -- Morgan Stanley sees a record 30% drop in U.S. gross domestic product in the second quarter. As the week opened, progress on a U.S. stimulus package hit a roadblock after Senate Democrats blocked Majority Leader Mitch McConnell’s attempt to...

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Energy

Oil futures fell Friday, with the slowdown in energy demand sending prices down for a fifth straight week. U.S. benchmark prices, however, found modest support after Baker Hughes reported that the

Precious Metals

Gold scores biggest weekly gain since 2008
Saturday, 28 March 2020 01:29 WIB
Gold futures settled with a loss on Friday but still scored the biggest weekly rise in more than 11 years in a rebound fueled in part by a weaker U.S. dollar and concerns about disruptions in the

CURRENCIES

Sterling rose on Friday as investors became more confident that the United States government and central bank economic stimulus could alleviate some of the impact of the coronavirus crisis. The

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