Gold Pauses After Best Week Since 2008 as Caution Reigns

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An employee holds one of thirty two, one kilogram bars of gold, worth a total of approximately one million British pounds sit on a table at the Sharps Pixley Ltd. showroom in this arranged photograph in London, U.K., on Thursday, Jan. 18, 2018. Amid the wild Bitcoin ride that’s wiped more than 40 percent off the cryptocurrency's price in a month, a pattern may be emerging: sellers are switching out of digital gold and into the real thing.Photographer: Luke MacGregor/Bloomberg

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By Ranjeetha Pakiam and Elena Mazneva

March 30, 2020 at 1:54 AM UTC

Updated on

March 30, 2020 at 9:36 AM UTC

This article is for subscribers only.

Gold edged lower after its best week since 2008 amid investor caution on policies aimed at mitigating the impact of the coronavirus pandemic.

Bullion’s muted trading comes after the gold market was thrown into turmoil last week as the health crisis disrupted supply chains, creating a squeeze in futures as sellers’ capacity to meet commitments to deliver the metal was curtailed.