Expectations for household spending growth slid sharply in the third week of March. The share of people who expect to be worse off a year from now increased to “well above” 40% by the end of the month, the survey found.
Gold is highly sensitive to interest rates, as lower rates reduce the opportunity cost of holding non-yielding bullion.
Crude futures surged for a second day on Friday, with benchmark Brent up 10% on hopes that a...
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“In addition, data collection for the two surveys was affected by the coronavirus. Although response rates for both surveys were adversely affected by pandemic-related issues, we still were able to obtain estimates from our two surveys that met BLS standards for accuracy and reliability.”
On Thursday, gold gained 1.2% after the number of Americans filing claims for unemployment benefits last week shot to another record high as more jurisdictions enforced stay-at-home measures to curb the pandemic.
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