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Gold Extends Rise After Another Surge In Jobless Claims


Thursday, 2 April 2020 20:21 WIB

GOLDEMAS


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Gold futures gained ground Thursday, adding to an advance after another large jump in first-time jobless claims.

Gold for June delivery on Comex rose $29, or 1.8%, to $1,620.40 an ounce, while May silver advanced 55.1 cents, or 3.9%, to $14.535 an ounce.

Gold added to gains as stock-index futures trimmed an earlier rise in the wake of data that showed the number of first-time claims rose by 6.6 million. That’s on top of a 3.8 million rise a week earlier. Prior to the coronavirus crisis, the largest-ever rise in first-time claims was less than 700,000.

While gold appeared to find some haven appeal on Thursday, the metal has seen a mixed performance as the COVID-19 pandemic takes a toll on global economic growth and sends shockwaves through financial markets.

Source : Market Watch


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