Gold climbs after Fed cuts rates in reaction to virus
Spot gold and US gold futures rise but the cut does little to calm investor nerves
04 March 2020 - 08:03
Bengaluru — Gold prices rose on Wednesday, extending gains from a 3% rise in the previous session as the US Federal Reserve slashed its benchmark interest rate to cushion the economic impact from the fast-spreading coronavirus.
Spot gold climbed 0.3% to $1,643.76/oz by 2.57am GMT, having registered its biggest one-day percentage gain since 2016 on Tuesday...
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