Gold rallies, spread balloons as investors charge into bullion

GOLD surged, with futures leading the way higher to hit the highest level in more than seven years, as investors weighed the widening economic fall-out from the coronavirus pandemic and the prospects of more stimulus in top economies.

Bullion is in demand, with JPMorgan Chase & Co.’s Jamie Dimon saying the disease will lead to a major major downturn. The jump came even as risk assets posted gains on signs the outbreak may be leveling off. Amid the rally, the spread between gold futures and spot prices ballooned once again.