Gold prices fall off 2-week highs amid equities recovery

27.03.2020 - Evdokimov Roman
Gold prices fall off 2-week highs amid equities recovery

Gold prices fell from its two-week high perch on Friday in Asia amid a recovery in equities.

Gold Futures for April delivery last traded on the Comex exchange at $1,640, dropping by 0.7% by 12:55 AM ET (04:55 GMT).

Despite the day’s losses, gold trade at a high above 8% for the week and has seen its biggest weekly gain since a decade.

Earlier, the safe-haven asset gained by 1% amid a major increase in demand overnight after news from the Labor Department reported near 3.28 million U.S. citizens had filed for unemployment benefits.

Additionally, the U.S. Senate had managed to reach a deal on a massive stimulus package on Wednesday and is expected to be on its way to the voting stage and later signed into law by the week’s end.

While the agreement for the stimulus package amounted to $2 trillion, White House Economic Adviser Larry Kudlow said that it might go as high as $6 trillion.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue

Help with deposit?