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IPMI and Industry News: Gold Market News

Gold extends rise as Fed ramps up monetary stimulus amid coronavirus outbreak

Monday, March 23, 2020   (0 Comments)
Posted by: Matt Watson
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Gold extends rise as Fed ramps up monetary stimulus amid coronavirus outbreak

Market Watch - 

Silver futures gain nearly 5% in Monday dealings

Gold for April delivery GCJ20, 3.907% on Comex rose $48.90, or 3.3%, to $1,533.50 an ounce, after putting in a weekly decline for the most-active contract of 2.1%, according to FactSet data.

May silver SIK20, 3.674% jumped 51 cents, or 4.2%, to $12.895 an ounce, after a weekly decline of 14.6%. Prices last Wednesday settled at the lowest since January 2009.

The Fed “has opened all the taps, and they have rolled out every single possible move," said Naeem Aslam, chief market analyst at AvaTrade. “Gold traders have welcomed the news. The Fed move created an explosive upward move in the gold price.”


Read the full article:  https://www.marketwatch.com/story/gold-extends-rise-as-fed-ramps-up-monetary-stimulus-measures-amid-coronavirus-outbreak-2020-03-23

 


 

 

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