Gold peaks weekly in hopes of CB stimulus

US, WASHINGTON (ORDO NEWS) — The price of gold rose to a weekly maximum on Thursday in the hope of additional incentive measures by leading central banks to limit the economic damage from the coronavirus pandemic.

By 14:00 UTC, the spot price of gold increased by 0.84% ​​to $ 1,727.76 per troy ounce.

“Gold is growing because the imputed cost of owning gold is becoming increasingly attractive. You can print money, but not gold, there are supply restrictions, ”said Xiao Fu from Bank of China International.

Palladium rose 1.60% to $ 1.969.29 an ounce.

Platinum rises in price by 0.56% to $ 761.72 an ounce, while silver added 0.78% to $ 15.27 an ounce.

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