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Gold Eases as Cash Rush Outweighs US Stimulus Hopes


Wednesday, 25 March 2020 14:06 WIB

GOLDEMAS


Gold prices edged lower in volatile trade on Wednesday as a flight to cash offset growing hopes for a massive U.S. economic stimulus to stem the coronavirus outbreak’s economic toll.

Spot gold fell 0.3% to $1,605.45 per ounce by 0447 GMT, after rising as much as 1.6% earlier in the day. The metal jumped more than 3% in the previous session.

U.S. gold futures climbed 0.5% to $1,668.60.

Benchmark spot gold prices continued to trade below U.S. gold futures in a sign that the market is worried air travel restrictions and precious metal refinery closures will hamper shipments of bullion to the United States to meet contractual requirements.

Source : Reuters


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