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​GOLD SURPASSES $2000 AN OUNCE FOR FIRST TIME IN U.S. HISTORY

Gold just hit a new record high as traders pile into the so-called safe-haven asset on hopes that another US coronavirus stimulus bill is coming soon. 

Spot gold rose as much as 1.2% to $2,000.58 an ounce on Tuesday before paring some gains.  “Gold has cleared the $2000 level and it might not be done as Treasury yields continue to slide,” said Edward Moya, senior market analyst at OANDA. 

A new stimulus bill could add extra liquidity to markets and weigh on rates, which would support the precious metal further.

Gold has surged nearly 32% year-to-date.  It has rallied amid the coronavirus pandemic, supported by a weak US dollar, low yields, as well as fiscal stimulus.

For additional information visit our friends at Business Insider.

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