Gold surges nearly 2%, fueled by hopes of stimulus boost [CNBC]
U.S. Global Investors, Inc. - Class A (GROW)
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Source: CNBC
A one kilo Swiss gold bar and US dollars gold coins are pictured in Paris on February 20, 2020.JOEL SAGET| AFP via Getty ImagesGold prices jumped as much as 1.9% on Wednesday on expectations for more fiscal and monetary stimulus measures amid massive economic damage due to stay-at-home and business shutdown orders around the world to limit the spread of the novel coronavirus.Spot gold was up 1.6% at $1,711.84 per ounce, which could be its biggest daily gain in nearly two weeks. U.S. gold futures settled 3% higher at 1,738.30."This is the perfect storm for gold... Perpetual buyer is buying gold because of all the global stimulus going on," said Michael Matousek, head trader at U.S. Global Investors."Gold is in a bull market. You'll be hard pressed to find something else that has this type of price action and this trend going on right now so you naturally have people gravitating towards it."Gold tends to benefit from widespread stimulus measures from central banks, as it is often seen a
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