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Gold prices extend rally, surge by most in 11 years amid tight supplies and regime of limitless stimulus

March 24, 2020

Gold prices were on track to surge by the most in more than a decade as the precious metal extended its rally to start the week, following the closure of gold mining operations and moves by the Federal Reserve to address the coronavirus crisis.

“The gold price finds itself the perfect environment with first the Federal Reserve unleashing its potentially unlimited stimulus package, followed by the closure of some Swiss gold refineries due to coronavirus,” wrote Carlo Alberto De Casa, chief analyst at ActivTrades, in a Tuesday note.

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