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Gold Steadies After Biggest Drop in More Than a Month


Thursday, 4 June 2020 09:21 WIB

GOLDEMAS


Gold steadied after falling the most in more than a month as investors their lost appetite for havens amid a global stock rally driven by firming hopes for a swifter global economic recovery.

Spot gold little changed at $1,700.36/oz at 10:59am in Sydney after -1.6% Wednesday. Silver -0.3%, platinum -0.1%, palladium -0.1%. The Bloomberg Dollar Spot Index steady.

The reopening of economies and the unprecedented levels of stimulus across the world have spurred a rally in U.S. equity futures and Asian stocks -- and perhaps straight-up euphoria. Earlier, U.S. private payrolls showed fewer job losses than forecast, adding to optimism that the worst of the coronavirus-related hit to the labor market is over.

Source : Bloomberg


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