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Goldplat plc

Gold scales more than 3-week peak

Gold jumped 1.5% to a more than three-week high on Monday as worries over a global economic slowdown caused by the coronavirus pandemic drove investors to the safe-haven metal.

Spot gold was up 1.5% at $1,640.40 per ounce by 1237 GMT after hitting its highest since March 12 earlier in the session. U.S. gold futures were up 1.7% at $1,673.30.

“The virus’s impact on the global economy and the unprecedented amount of stimulus going through the veins of the financial system should keep supporting gold,” OANDA analyst Craig Erlam said.

Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.