COMEX gold rallied $9/oz as equities drop on Q1 earnings fears

摘要

Washington—COMEX gold futures closed nearly $9/oz higher Monday as crude oil futures rallied early in the day and US equity markets moved sharply lower in anticipation of weak first-quarter earnings. Gold for June delivery, the active month, closed $8.60/oz higher at $1,761.40/oz after trading in a relatively tight range earlier in the day and breaking higher in midmorning. Gold rallied as US equity markets moved lower on concerns about what first-quarter earnings may show about the economic damage caused by the coronavirus pandemic, as well as rising crude oil prices.