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Stock impact report

Gold falls as equities drift higher ahead of Fed statement [Reuters]

U.S. Global Investors, Inc. - Class A (GROW) 
US:NASDAQ Investor Relations: usfunds.com/about-us/investor-relations
Company Research Source: Reuters
Gold falls as equities drift higher ahead of Fed statement (Reuters) - Gold fell on Wednesday as optimism around the easing of coronavirus-led lockdowns and hopes of a potential drug propped up risk assets, while investors awaited the U.S. Federal Reserve’s monetary policy statement later in the day. Spot gold fell 0.3% to $1,702.38 per ounce at 11:40 a.m. EDT (1540 GMT), having fallen for three previous sessions. U.S. gold futures were 0.4% lower at $1,716.10. “You just have the risk-on sentiment from U.S. equity markets... I think there’s some profit taking in gold right now and a lot of people are getting repositioned for the next flight up in gold,” said Michael Matousek, head trader at U.S. Global Investors. Wall Street jumped following an encouraging update from Gilead Sciences ( GILD.O ) on a potential COVID-19 treatment and upbeat earnings. Sentiment also improved as parts of the United States, Europe and Australia gradually eased restrictions. New Zealand this week allowed Show less Read more
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