Gold prices climbed to its highest level in nearly eight years on Wednesday, as demand for the safe-haven asset was boosted by worries over a surge in coronavirus infections and hopes of more stimulus measures to combat the economic blow.
FILE PHOTO: Gold bars and granules are displayed in the Austrian Gold and Silver Separating Plant Oegussa in Vienna June 2, 2009. REUTERS/Leonhard Foeger/File Photo
“Continued support that central banks are likely to provide to the market with bond purchasing programmes and monetary easing will clearly keep the rates low for the foreseeable future.” U.S. Treasury Secretary Steven Mnuchin said the next stimulus bill will focus on getting people back to work quickly and that he would consider a further delay of the tax filing deadline.
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