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rdf:type	schema:NewsArticle
schema:articleBody	Gold struck a seven-year pinnacle above $1,700 an ounce Tuesday as massive Fed stimulus floods markets with dollars, weakening the greenback and sending investors running to the precious metal, analysts said. Just after 1230 GMT, gold rallied to $1,731.25 an ounce on the London Bullion Market, striking a peak last seen in November 2012. The dollar slid against main rivals Tuesday in the wake of the Federal Reserve's ongoing stimulus policies that are aimed at cushioning the blow to the world's biggest economy from the deadly COVID-19 outbreak. This has made dollar-denominated commodities like gold cheaper for buyers holding rival currencies. "Gold has been staging an impressive rally," said Jasper Lawler, head of research at traders London Capital Group. "For us, the common denominator is the... new programmes introduced by the Federal Reserve. "More dollars swirling around in the system have devalued the dollar." ActivTrades chief analyst Carlo Alberto De Casa said gold was buoyed purely by the US central bank's stimulus rather than investors shunning risky assets -- with gold traditionally seen as a haven investment in times of economic unrest. "Gold is skyrocketing... (but) this new rally is not related to a swift return of risk-off, but instead driven by the huge increase of the Federal Reserve's balance sheet," he said. ktr-rfj/bcp/rl
schema:headline	Gold shoots to seven-year peak on weaker dollar
schema:mentions	City of London Jasper 2020 coronavirus outbreak in Singapore Slid (Fluke song) Federal Reserve United States dollar Rallying Charles Albert of Sardinia PAWS London Capital Precious metal Pinnacle United States Note Greenwich Mean Time
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-14 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	71 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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