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Gold prices extend rally as ETF holdings surge to record high

outbreak pandemic economy Coronavirus
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Gold extended a rally to hit the highest level in more than seven years on concern that the coronavirus pandemic will have a devastating effect on the global economy, hammering corporate earnings while supercharging demand for havens.

Bullion has soared as the outbreak tipped economies into recession and spurred central banks to launch huge stimulus. Since getting caught up in a wave of forced selling last month as equities sank, gold has staged a powerful recovery.

That means futures are now nearing $1,800 an ounce after trading in the $1,400s less than four weeks ago. Spreads over spot prices remain wide. “Risk sentiment is turning toward the cautious side, and investors are fleeing into the perceived safe-haven in view of the virus

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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