Gold stronger before giving up gains after Fed rate cut
Investors are dumping everything in favour of cash, analyst says
16 March 2020 - 07:47
Bengaluru — Gold prices jumped in early trade on Monday after another emergency rate cut by the US Federal Reserve, before paring gains as some investors sold the metal for cash amid a sell-off in equities.
Spot gold was up 0.9% at $1,543.60 per ounce by 4.48am, having risen as much as 2.8% earlier. The metal fell 3% on Friday. US gold futures rose 1.8% to $1,544.20 per ounce...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.