Gold steadies after 9-day rally as Fed flags risk from virus

Singapore

GOLD paused after rallying for nine days to a record as investors weighed comments from the Federal Reserve on uncertainties over the economic recovery amid the coronavirus pandemic.

Bullion was supported as the US central bank left interest rates near zero and vowed to use all its tools to drive the recovery from the downturn that chair Jerome Powell called the most severe "in our lifetime". He sounded a dour tone, noting that more fallout from the outbreak still lies ahead. US deaths surpassed 150,000, the highest official toll in the world.