Gold Jumps to Biggest Week in 11 Years
Investing.com – Gold jumped almost 7% on the week, its biggest weekly gain in 11 years, as the yellow metal’s prices neared $1,700 per ounce amid growing fears over the coronavirus contagion that drove investors worldwide toward safe havens.
Gold futures for April delivery on New York’s COMEX settled up $4.40, or 0.3%, at $1,672.40 per ounce. For the week, gold futures jumped 6.7%, their biggest weekly gain since 2009. April gold earlier hit a session high of $1,690.65, coming less than $10 of gold bugs’ target of $1,700.