Thursday Outlook: Gold rise to an over one-week high; oil prices drop

Hopes that the pandemic will finally be brought to its knees sparked a risk-on rally in the markets

  
A man wearing protective face mask, following an outbreak of the coronavirus disease (COVID-19), stands in front of a stock quotation board outside a brokerage in Tokyo, Japan, March 10, 2020. Image used for illustrative purpose.

A man wearing protective face mask, following an outbreak of the coronavirus disease (COVID-19), stands in front of a stock quotation board outside a brokerage in Tokyo, Japan, March 10, 2020. Image used for illustrative purpose.

REUTERS/Stoyan Nenov

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Asian shares mixed, U.S. dollar near 2-1/2 year lows
MSCI's broadest index of Asia-Pacific shares outside of Japan were barely changed following two straight days of gains

Gold rises to over 1-week high on sagging dollar
Silver fell 0.3% to $24.02 an ounce, while platinum dropped 0.3% to $1,011.47

Dollar wallows near 2 1/2-year low on vaccine, stimulus optimism
The U.S. currency was on back foot against most other currencies, apart from the safe-haven yen, against which the dollar held firmer at 104.46 yen

Oil drops as OPEC+ resume talks on output cut extension after impasse
Brent crude was down 15 cents, or 0.3%, at $48.10 a barrel


 

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