Overall sentiment for gold is still high, as investors seek havens amid the economic downturn. FMTNews Gold
SINGAPORE: Gold is heading for the biggest monthly gain since 2016 as top economies ramp up stimulus to repair the damage from the coronavirus pandemic, boosting the metal’s allure as a store of value.
“Additional liquidity in the system benefited gold,” she said. “The risks in the system do point to further gains but I would expect that some of the momentum will fade away.” Spot gold was up 0.3% at US$1,717.90 an ounce at 10.03am in London, ahead of a long weekend for some markets, including China and most of Europe. Gold futures for June delivery advanced 1% on the Comex to US$1,730.40.
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