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Gold pulls back on Friday but heads for weekly gain amid rocky stock market

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Gold futures fell early Friday but headed for weekly gain in turbulent patch of trading for global equities.

Bullion, which has ascended in price amid the global viral outbreak, has benefited recently from newfound volatility in the stock market after the precious metal’s coronavirus-fueled advance stalled out over the past few weeks. However, some commodity experts question the metal’s ability to retake its perch around $2,000 soon.

“Gold still looks bullish, but it will struggle to break the $2000 level again until the dollar resumes its downtrend,” wrote Edward Moya, senior market analyst at Oanda, in a Friday research note.

“Gold’s safe-haven…



Source marketwatch.com

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