{"id":1201991,"date":"2020-08-17T14:06:10","date_gmt":"2020-08-17T19:06:10","guid":{"rendered":"https:\/\/www.mining.com\/?p=1032899"},"modified":"2020-08-17T14:06:10","modified_gmt":"2020-08-17T19:06:10","slug":"gold-price-recovers-from-worst-week-since-march","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1201991","title":{"rendered":"Gold price recovers from worst week since March"},"content":{"rendered":"

Gold rebounded from its worst weekly performance in nearly five months as a weaker dollar and pullback in US treasury yields bolstered investor demand for safe-haven assets.<\/p>\n

Spot gold advanced 1.7% to $1,980.74 per ounce by 2:45 p.m. EDT on Monday. Gold futures for December delivery jumped 2.1% to $1,991.20 per ounce after briefly crossing the $2,000 an ounce mark earlier in the day.<\/p>\n

Gold investors also received a boost after a regulatory filing disclosed Berkshire Hathaway’s new 20.9 million share investment<\/a> in Barrick Gold — one of the world’s largest mining companies.<\/p>\n

Bullion — which has risen by more than 30% this year — has benefitted from the ultra low interest rates and widespread stimulus measures used to keep economies afloat during the covid-19 pandemic.<\/p>\n

Investors are now awaiting the minutes from the US Federal Reserve’s last policy meeting, which would indicate the next moves for the precious metal.<\/p>\n

“The market expects the Fed to be very supportive, we’ll be above $2,000 per ounce before Wednesday’s Fed minutes, and north of $2,250 by the end of year,” Bob Haberkorn, senior market strategist at RJO Futures, told Reuters<\/a><\/em>.<\/p>\n

“Considering, we still expect real rates to eventually resume their fall, should headwinds shift to tailwinds, we could see precious metals resume their upward trajectory with a substantial amount of strength,” TD Securities said in a note<\/a>.<\/p>\n

(With files from Reuters)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Spot gold advanced 1.7%, while US gold futures jumped 2.1% after briefly touching $2,000\/oz earlier on Monday.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201991"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1201991"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201991\/revisions"}],"predecessor-version":[{"id":1202033,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1201991\/revisions\/1202033"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1201991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1201991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1201991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}