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Gold fell off its key $1,600 gain on Thursday after investors had sold off their positions in the precious metal in a panicked rush to save themselves from losses on Wall Street.
Gold Futures in New York’s COMEX fell by 3.2% ($52.10) at $1,589.30 an ounce. In a session, intraday prices fell by a near $80 to $1,560.65 per ounce.
This resulted in a third consecutive day of losses for the safe-haven commodity, having dropped by almost 5% since the start of the week when Wall Street stocks plummeted by 10%.
Thursday’s stumble has led gold prices to lose more than $110 on the week, keeping it on a course to a 6.6% loss.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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