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Gold Rallies, Spread Balloons as Investors Charge Into Bullion [Yahoo! Finance News]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
) -- Gold surged, with futures leading the way higher to hit the highest level in more than seven years, as investors weighed the widening economic fall-out from the coronavirus pandemic and the prospects of more stimulus in top economies.Bullion is in demand, with JPMorgan Chase & Co.’s Jamie Dimon saying the disease will lead to a major major downturn. The jump came even as risk assets posted gains on signs the outbreak may be leveling off. Amid the rally, the spread between gold futures and spot prices ballooned once again.“Even though hopes are rising of a slowdown in the pandemic, enough doubt exists to see safe-haven assets in strong demand,” Australia & New Zealand Banking Group Ltd. said in a note. “The tone was set by JP Morgan CEO, Jamie Dimon, who said the outbreak could cause a bad recession.”Futures rallied as much as 2.9% to $1,742.60 an ounce, the highest level since November 2012, and traded at $1,729.20 at 8:03 a.m. in Singapore. Spot gold was 0.3% higher at $1,665.85 Show less Read more
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