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Gold Eases on Profit-Taking, But Poised For Best Week in 11 Years


Friday, 27 March 2020 10:16 WIB

GOLDEMAS


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Gold eased on Friday as some investors booked profits after prices hit a two-week high in the last session amid hopes for further stimulus to curb the coronavirus’ economic toll, but the metal was headed for its best weekly gain in more than 11 years.

Spot gold slipped 0.5% to $1,621.07 per ounce by 0035 GMT, having risen to its highest since March 12 on Thursday.

The metal was up 8.2% for the week, its biggest since December 2008, on weak U.S. unemployment data and the Federal Reserve’s unprecedented economic stimulus measures.

U.S. gold futures fell 0.8% to $1,638.80.

Source : Reuters


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