Gold logs largest weekly gain since 2008
Economies.com
2020-03-27 19:49PM UTC
Gold futures fell on Friday, but posted the largest weekly gain since September 2008, as the US dollar fell against most currencies.
The US House of Representatives voted today on favour of the $2 trillion financial stimulus package, which is aimed at easing the coronavirus impact on US companies and families.
President Donald Trump said that he will sign the stimulus bill later today after it was passed by the both the Senate and the House.
The dollar index fell against a basket of currencies by 1% to 98.3 points as of 17:37 GMT, with a high of 99.8 and a low of 98.3.
Gold April futures fell 1.6% to settle at $1,625 an ounce, with weekly gains of 9.45%, after hitting a day high $1,647.2 and a low of $1,611.4.
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