Bullion traded near the highest since 2012 after Federal Reserve (Fed) chairman Jerome Powell voiced concern that the crisis could leave permanent scars on the United States economy, while leaving interest rates near zero.
SINGAPORE: Gold is heading for the biggest monthly gain since 2016, as top central banks ramp up stimulus to repair the economic damage inflicted by the coronavirus pandemic, boosting the metal’s allure as a store of value.
Bullion traded near the highest since 2012 after Federal Reserve (Fed) chairman Jerome Powell voiced concern that the crisis could leave permanent scars on the United States economy, while leaving interest rates near zero. Next up, the European Central Bank will decide if more action is needed amid the historic slump. Earlier this week, the Bank of Japan added stimulus.
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