The world economy is reeling for the bad effect of coronavirus pandemic. Gold prices in international market are unstable for this changed situation. Gold prices dipped more than 2 per cent on Friday as investors’ hopes of a rebound in the global economy got a boost from stronger-than-expected US non-farm payrolls data, reducing demand for safe havens. Spot gold slid 2 per cent to $1,675.70 per ounce at 11:08 a.m. ET (1508 GMT). US gold futures fell 2.8 per cent to $1,678.40. Bullion has declined about 3 per cent so far this week, on track for its biggest fall since the week ending March 13. Elsewhere, palladium edged higher by 0.2 per cent to $1,937.20 per ounce, while platinum dropped 3.6 per cent to $806.45. Silver slipped 2.4 per cent to $17.29 per ounce, and was set for its first weekly decline in five.
