(Bloomberg) — Gold traded near the highest close in more than seven years, supported by predictions for the deepest global recession in generations; expectations for prolonged, debt-fueled intervention by central banks and governments; and another charge by investors into bullion-backed funds.Spot bullion held its ground after a four-day surge, with the International Monetary Fund twinning a warning that the pandemic-induced global recession will be the deepest since the Great Depression with a plea for more even more stimulus. Later Wednesday, U.S. retail sales data for March will add more detail on the damage from the outbreak as earnings season rolls …read more
Source:: Yahoo Finance
