Gold Sees a Week of Gains
APMEX
6/10/2020 8:35:46 AM
On Monday, Gold prices rose off a two-month low. The yellow Precious Metal recovered almost half of what it lost in the previous session. Investors gambled that stimulus measures will remain in place for the immediate future, boosting bullion appeal despite some strength in the U.S. stock market. Meanwhile, Silver added 41 cents, or 2.4%, to end at $17.89 an ounce.
Gold prices finished higher Tuesday, as global equities showed a moderate retreat after being optimistic for weeks because of the reopening of economies stricken by the COVID-19 pandemic. Also, Platinum lost 0.07% to $860.60 an ounce, while Palladium fell 3.4% to $1,967.10 an ounce.
Gold prices rose for a third session early Wednesday morning, supported by a decline in the U.S. dollar and a retreat in bond yields ahead of the U.S. Federal Reserve’s policy update due in the afternoon. For the week thus far, Gold has climbed 2.8%, while Silver has gained 3.2%.
Gold prices climbed on Thursday to their greatest mark in more than a week, supported by growing fears of a resurgence in U.S. cases of COVID-19 and a realistic economic position from the U.S. Federal Reserve.
Gold prices climbed moderately Friday morning, as U.S. stocks tried to recover from one of the worst sell-offs since the COVID-19 pandemic stirred markets in March. For the week, the yellow Precious Metal is on track for a weekly gain of 3.5%.
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