Gold Heads For A Third Monthly Gain

Gold heads for third monthly gain, but still retreated earlier today as investors gave in to profit-taking temptation sparked by gold’s 1% jump in the last session. The yellow metal still getting some support from speculation that the rapidly spreading coronavirus could lead to rate cuts by central banks.
Gold futures headed for a third consecutive monthly gain. Bullion settled at $1,642.50 an ounce Thursday on Comex, down 60 cents for the day. Currently, the April contract is at $1,625.50.
Meanwhile, the Dow Jones Industrial Average continues its dramatic decline. It tumbled 1,191 points yesterday, the biggest single-day point-total decline in history. At this morning’s opening bell, the Dow was down just shy of 800 points.