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(Kitco News) A massive three-day bounce in stocks has proven to be only temporary as equities tumbled Friday, once again dragging gold down with it.

One of the biggest news to drive markets next week will be that the U.S. has become the new epicenter for the COVID-19 outbreak, surpassing China and Italy with the number of people infected.

The number of cases in the U.S. surged to more than 100,000, with at least 1,500 deaths. Worldwide there are now more than 590,000 cases and at least 26,900 deaths.

“The spread of the virus will

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