Gold May Reach $3,000 an Ounce, Economists Predict
Posted: 18 Apr 2020, 04:19
Gold targets 'higher highs' as coronavirus fight saps US dollar strength
Gold was trading just off seven-year highs Thursday as investors bet the precious metal's price would swell as the COVID-19 pandemic reshapes financial markets.
Futures for June delivery inched up 0.3 percent to $1,746 per ounce, holding just below their April high of $1,768. Gold has surged 16 percent this year, thanks to investors who view it as a relatively safe asset while the U.S. dollar weakens amid extraordinary government efforts to insulate the economy from the coronavirus.
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