Gold steady above $1,600 as palladium spikes again

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South Africa Headlines News

Big wave of risk-off sentiment is subsiding but economic fallout from virus buoys gold demand

Bengaluru — Gold prices held steady above the key $1,600 mark on Wednesday as an uptick in equities due to a drop in new virus cases was kept in check by fears about the economic fallout of the epidemic.

Asian shares and US stock futures edged cautiously higher as investors tried to shake off worries about the epidemic. The US dollar, also considered a safe haven during times of economic and political uncertainties, stayed above the more than four-month high against key rivals.

 

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