Gold has stabilized, may end the week in positive territory due to fears of growth

US, WASHINGTON (ORDO NEWS) — The price of gold rose slightly on Friday and could show a weekly increase due to concerns about the global recession caused by the coronavirus, despite the fact that central banks continue to introduce incentive measures.

The spot price of gold rose 0.09% to $ 1.732.95 per troy ounce by 13:53 UTC, and since the beginning of the week it has added more than 2.6%.

“Gold is holding well, and this is not surprising given the continued volatility in other markets and the fact that people are moving into safe assets,” said Eugen Weinberg of Commerzbank.

Palladium rose 1.51% to $ 2,009.31 an ounce, but may show a fourth consecutive weekly decline.

Platinum went up 0.63% to $ 759.81 an ounce, while silver fell 0.21% to $ 15.27.


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