UPDATE: Gold futures score gains for the session and week
Gold futures climbed on Friday (http://www.marketwatch.com/story/gold-on-track-for-small-weekly-gain-as-investors-seek-handle-on-coronavirus-outbreak-2020-02-14) to tally a gain of roughly 0.8% for the week. Concerns surrounding COVID-19 and its impact on the global economy continued to feed haven demand for the precious metal. "Should the outbreak take a dramatic turn for the worse, perhaps by way of confirmation in the economic data, $1600 remains in reach from current levels considering that gold prices have yet to reach overbought levels," said Han Tan, market analyst at FXTM. April gold rose $7.60, or 0.5%, to settle at $1,586.40 an ounce. That was the highest most-active contract settlement so far this month, FactSet data show.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 14, 2020 14:05 ET (19:05 GMT)
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