Gold and Silver Have Worst Weeks Since March on Rising Dollar

(Bloomberg) — Gold and silver posted their biggest weekly losses since March, when the global onset of the coronavirus pandemic panicked markets.The dollar gained as concern over the outlook for global economic growth bolstered the appeal of the currency as a haven, sapping demand for gold. Fears are mounting that rising coronavirus cases, particularly in Europe, may lead to more national lockdowns, denting the outlook for recovery. Gold fell 4.6% this week, while silver slumped 15%.“Both have succumbed to belated long liquidation and pressure generated by the strength in the general dollar index, which is on track for its biggest …read more

Source:: Yahoo Finance