Gold slides as economic recovery hopes dent safe-haven bids

From reuters.com

Gold fell on Thursday, pressured by hopes of a swift recovery from the coronavirus-driven recession although losses were capped by prospects of more stimulus and bleak data. Spot gold slid 0.6% to $1,738.97 per ounce by 0250 GMT. U.S. gold futures slipped 0.6% to $1,740.80. Global equities and crude prices surged overnight on hopes of a rapid recovery from the coronavirus-driven recession. "There is still some optimism and risk-on sentiment about the possibility of a vaccine and talks of lockdown easing and growth slowly picking up," said National Australia Bank economist John Sharma. "But it not a huge thing and ... (full story)