Gold Extends Losses as Virus Panic Spurs Investors to Sell
- Bullion prices have plunged as investors try to free up cash
- Other precious metals have also declined amid market turmoil
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Gold tumbled again as investors rushed to raise cash to cover losses in other volatile markets, with global leaders striking a pessimistic tone over the likely economic impact of the coronavirus crisis.
In a sign of the wild swings seen in markets during the health crisis, U.S. equity futures rebounded from their biggest drop since 1987, advancing alongside the dollar. President Donald Trump has warned of a possible recession and that the economic disruption from the virus could last into summer.