Gold prices recovered some ground Thursday, after seeing the lowest levels of the year, as governments and central banks made moves to support the global economy, which has suffered under the spread of the COVID-19 pandemic.
Recent losses in global equities had triggered forced liquidation and a surge in the U.S. dollar.
“With all the extra stimulus from governments and central banks out there, it’s been a wild ride in debt markets recently, further feeding the frenzy in precious metal markets,” said Craig Erlam, senior market analyst at Oanda, in a market note, adding that gold has “continued to be volatile.”
