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Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
 
Toll Free: 888-419-7136

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Over 30 Years Experience
Park Avenue has over 30 years experience buying and selling Rare Coin and Precious Metals. We have the knowledge and ability to provide our customers with the best products and services.

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Gold rises over 1% as coronavirus hits global economies

Monday, April 6, 2020

NEWS SUMMARY: Precious metal prices rose sharply Monday on safe haven buying and a flat dollar. U.S. stocks opened higher following a sharp sell-off last week amid signs of stabilization in global coronavirus hospital cases.

 CNBC--- "Gold prices jumped 1.5% to a more than three-week high on Monday as worries over a global economic slowdown caused by the coronavirus pandemic drove investors to the safe-haven metal. 'The virus's impact on the global economy and the unprecedented amount of stimulus going through the veins of the financial system should keep supporting gold,' OANDA analyst Craig Erlam said. 'Gold seems to have its eye on $1,700 per ounce and I wouldn't be surprised to see it push higher.' The pandemic has infected more than a million people, killed over 68,000 and prompted countries to extend lockdowns to curb its spread, paralyzing large swathes of the global economy....'From a long-term standpoint, gold will still remain the preferred asset as the environment of low interest rates and virus-induced global slowdown would support a prolonged rally,' said Sugandha Sachdeva, vice-president, metals, energy and currency research at Religare Broking Ltd."

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