Gold Sinks Back Into $1,600s as Restarts Erode Demand for Havens

(Bloomberg) — Gold fell for a third day as a drumbeat of moves toward reopening economies plus gains in stocks eroded appetite for havens, with prices sinking below $1,700 an ounce ahead of policy announcements from two of the world’s leading central banks.The precious metal eased after U.S. equities hit the highest in almost seven weeks as states including Florida took steps toward easing restrictions. Italy, one of the countries hit hardest, prepared to begin reopening, although the World Health Organization warned the coronavirus pandemic is far from over.While bullion is still near the highest in more than seven years …read more

Source:: Yahoo Finance

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