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Gold extends gains on surprise Fed rate cut

Gold extends gains on surprise Fed rate cut

Wednesday, March 4, 2020, 5:39 PM

Gold edged lower on Wednesday, reversing course from a 3% surge in the previous session following a surprise rate cut by the U.S. Federal Reserve as equities and the dollar regained some ground. Spot gold slipped 0.2% to $1,636.13/ounce as of 0838 GMT, having risen as much as 0.7% earlier in the session and registered its biggest one-day percentage gain since 2016 on Tuesday.
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