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Aug. 17, 2020, 1:46 p.m. EDT

Gold surges 2.5% on Monday and marks best daily gain in four months, narrowly missing a retake of $2,000

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    Berkshire Hathaway Inc. Cl A (BRK.A)
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    Berkshire Hathaway Inc. Cl B (BRK.B)
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    Barrick Gold Corp. (GOLD)

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By Mark Decambre

Gold prices rallied Monday, with the gain helping the precious commodity put in the best one-day gain in about four months on the back of a slide in government bond yields and the U.S. dollar, which were raising the appeal of the precious commodity. The yellow metal also may have drawn additional interest after a public filing that offered a peek of holdings of Warren Buffett's Berkshire Hathaway Inc. /zigman2/quotes/208872451/composite BRK.A -0.93% /zigman2/quotes/200060694/composite BRK.B -0.89% revealed that the conglomerate had taken a new stake last quarter in the world's second-largest gold miner, Barrick Gold Corp. /zigman2/quotes/201432642/composite GOLD -0.49% . December gold /zigman2/quotes/210039572/delayed GCZ20 +0.12% /zigman2/quotes/210034565/delayed GC00 +0.12% rose $48.90, or 2.5%, to settle at $1.998.70 an ounce. On a dollar and percentage basis that marks the best day for gold since April 22, FactSet data show. Shares of Barrick Gold, meanwhile, were trading 11% higher. Last week, gold came under pressure as U.S. Treasurys climbed to an eight-week high, detracting from the appeal of bullion. However, gold enthusiasts insists that uncertainty about the economic landscape fostered by the COVID-19 pandemic make bullion a solid long-term bet, particularly as countries spend trillions to support their economies. On Monday, the 10-year Treasury note yield was at 0.674%, compared with 0.708% Friday afternoon. Meanwhile, a gauge of the dollar, the ICE U.S. Dollar Index /zigman2/quotes/210598269/delayed DXY -0.41% , was down 0.3%, at 92.83. Gold benefits from lower yields because it doesn't offer a coupon and a weaker dollar can make bullion more attractive to users of other currencies.

Read the full story:
Gold prices notch best day in about four months with 2.5% gain

/zigman2/quotes/208872451/composite
US : U.S.: NYSE
$ 315,534
-2,970 -0.93%
Volume: 150.00
Oct. 19, 2020 11:35a
P/E Ratio
23.07
Dividend Yield
N/A
Market Cap
$506.51 billion
Rev. per Employee
$637,113
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/zigman2/quotes/200060694/composite
US : U.S.: NYSE
$ 210.02
-1.90 -0.89%
Volume: 929,891
Oct. 19, 2020 11:35a
P/E Ratio
23.02
Dividend Yield
N/A
Market Cap
$506.51 billion
Rev. per Employee
$637,113
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/zigman2/quotes/201432642/composite
US : U.S.: NYSE
$ 27.44
-0.14 -0.49%
Volume: 5.22M
Oct. 19, 2020 11:35a
P/E Ratio
8.29
Dividend Yield
1.16%
Market Cap
$48.96 billion
Rev. per Employee
N/A
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/zigman2/quotes/210039572/delayed
US : U.S.: Nymex
$ 1,908.60
+2.20 +0.12%
Volume: 127,795
Oct. 19, 2020 11:25a
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/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,908.60
+2.20 +0.12%
Volume: 127,795
Oct. 19, 2020 11:25a
loading...
/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
93.30
-0.39 -0.41%
Volume: 0.00
Oct. 19, 2020 11:25a
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