06/03/2020
Gold Back in Play for $1,700 as Virus Fears Energize Safe Havens
Beaten back from its earlier shot at $1,700, gold found vigor again Thursday as U.S. authorities raced to fight the spread of the coronavirus in the worldâs largest economy, prompting investors to rush into safe havens.
Gold futures and spot prices of bullion rose more than 1% each, climbing the key $1,650 hurdle after California declared a state of emergency amid the outbreak that has killed 11 Americans so far and infected more than 100 others.
Wall Streetâs S&P 500 plunged about 3% while the dollar index, which measures the greenback against six currencies, slipped 0.5%, facilitating goldâs path toward another attempt at the $1,700 target, which it missed by less than $10 last month.
https://za.investing.com/news/gold-back-in-play-for-1700-as-virus-fears-energize-safe-havens-2046217