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Gold on track for biggest weekly gain since June as downbeat economic data fuel haven demand

From marketwatch.com

Gold futures rallied on Friday, headed for the sharpest weekly gain in eight months, as downbeat U.S. economic data and steadily sliding government bonds rates offered fresh support to the haven asset that is on pace for a seventh straight session gain. Goldman Sachs in a recent research note wrote that bullion could top $1,850 an ounce in the near term if the outbreak of COVID-19, the infectious disease that reportedly originated in Wuhan, China, can’t be contained by the second quarter. The analysts say the illness, which has claimed more than 2,200 lives and sickened 76,767 people, according to the World Health ... (full story)

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