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Gold prices retreated yesterday, Thursday, as expectations of an increase in US jobless claims increased due to the outbreak of the Corona virus on a massive American economic stimulus package, and kept the stampede towards liquidity among investors.
And gold fell in the spot transactions 0.8 percent to $ 1600.22 an ounce (ounce) by the time 0508 GMT, after falling 1% earlier in the session.
“There is no story of positive growth here until companies resume their work, and this could see a decline in all of those assets, which have benefited from the stimulus announcement (recently) by the US Federal Reserve, including gold,” said Elia Spivac, exchange-market analyst at Daily Fix. again».
The US Senate supported by a majority a trillion-dollar bill aimed at helping unemployed workers and industries damaged by the spread of the Corona virus, as well as providing billions of dollars to buy much-needed medical equipment.
The US central bank announced last Monday that it would buy bonds in open numbers and support direct loans to companies, in the latest series of policy steps taken over the past ten days to calm markets and support the economy. As for other precious metals, palladium in spot trading fell 3 percent to $ 2247.57 an ounce by 0621 GMT, after rising nearly 20 percent in the previous session when it recorded the best daily gain since 1997, as it exacerbated the declaration of a state of isolation in South Africa.