Gold slips as traders take profits
Bullion on track for a weekly gain as US approves $484bn coronavirus relief bill
24 April 2020 - 07:38
Gold eased on Friday as investors booked profits after a 1% rise in the previous session, but weak economic data from the US and Europe due to the novel coronavirus kept bullion on track for a weekly gain.
Spot gold slipped 0.6% to $1,721.15/oz by 3.45am GMT, but was up about 2.2% for the week so far. Prices hit a more than one-week high of $1,738.58/oz on Thursday, bolstered by hopes of more stimulus from the US, especially after jobless claims soared to a record 26-million in the past five weeks. US gold futures were little changed at $1,744.70/oz...
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.