- Gold prices fell on Thursday as expectations of a surge in U.S. jobless claims due to the coronavirus outbreak eclipsed a massive U.S. stimulus package and kept alive a rush for cash among investors.
The U.S. Senate on Wednesday overwhelmingly backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic, as well as providing billions of dollars to buy urgently needed medical equipment. Gold market participants, meanwhile, also kept a close watch on concerns about a supply squeeze crunch in the market, following a sharp divergence in London and New York prices as the coronavirus grounded planes and closed precious metals refineries.
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