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Gold dips as virus spread eclipses U.S. aid; palladium races higher

From uk.reuters.com

Gold prices slipped on Wednesday, after gaining over the previous three sessions, as rising coronavirus cases and the global economic toll from the disease overshadowed hopes fueled by a $2 trillion U.S. government stimulus package. Deficit-hit palladium, meanwhile, soared more than 15% as coronavirus-led closures further squeezed supply of the auto-catalyst metal. Spot gold was down 0.2% at $1,607.57 per ounce at 10:56 a.m. EDT (1456 GMT). Prices surged as much as 5% on Tuesday. U.S. gold futures slid 1.6% to $1,633.70, having posted their biggest one-day jump since 2009 in the last session. “It’s very volatile ... (full story)

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  • Category: Fundamental Analysis