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Gold lower ahead of U.S. jobless claims data

From reuters.com

Gold prices fell on Thursday as expectations of a surge in U.S. jobless claims due to the coronavirus outbreak eclipsed a massive U.S. stimulus package and kept alive a rush for cash among investors. Spot gold fell 0.8% to $1,600.22 per ounce by 0508 GMT, after falling 1% earlier in the session. "There is no positive growth story here until business reopens, and that might see all these assets, that have been benefiting from the U.S. Federal Reserve's (recent) stimulus announcement, including gold, come back down," said DailyFx currency strategist Ilya Spivak. "What we are looking at is a period of consolidation ... (full story)

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  • Category: Fundamental Analysis