Gold falls 3% as precious metals join virus-led free fall [CNBC]
U.S. Global Investors, Inc. - Class A (GROW)
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Source: CNBC
A one kilo Swiss gold bar and US dollars gold coins are pictured in Paris on February 20, 2020. JOEL SAGET| AFP via Getty Images Gold slid 3% as coronavirus drove panic-stricken investors to liquidate assets across the board. The rout hammered other precious metals as well, with platinum declining as much as 6.1% and silver sliding 6.6%. "A lot of investors and traders are having to meet margin calls for other products, so they are selling what they can. That's why it is hitting gold and the gold mining stocks," said Michael Matousek, head trader at U.S. Global Investors. "People are trying to sell whatever they can. It's an overall sell-off." Spot gold U.S. gold futures The precious metal saw sharp price swings this week, having hit a seven-year high of $1,688.66 on Monday. The metal is now on track to post its biggest weekly decline since November. The rapid spread of the coronavirus raised fears of a pandemic, with six countries reporting their first cases and the World Health Orga
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GROW
Sec Filings
- 4/24/24 - Form 13F-HR
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- GROW's page on the SEC website