Gold futures soar as investors move to safe-haven asset
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E-mail Xinhua, March 24, 2020
CHICAGO, March 23 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday amid rising safe-haven demand ahead of Thursday's jobless claims report.
The most active gold contract for April delivery rose 83 U.S. dollars, or 5.59 percent, to close at 1567.6 dollars per ounce.
Market analysts have cautioned that weekly jobless claims in Thursday's report could hit millions due to the coronavirus. Several banking institutions have predicted a much-lower-than-expected GDP figure.
Gold found support as the U.S. dollar index fell by 0.52, or 0.51 percent, to 102.3 as of 18:00 GMT.
The U.S. Dow Jones Industrial Average fell by 532.51, or 2.78 percent, to 18,641.47 as of 18:05 GMT, also supporting gold.
Silver for May delivery rose 87.6 cents, or 7.07 percent, to close at 13.261 dollars per ounce. Platinum for April delivery rose 5 dollars, or 0.8 percent, to close at 627.5 dollars per ounce. Enditem
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