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Reuters
Gold hits a week high
Gold hit its highest level in a week today in light of the weaker dollar, as escalating coronavirus cases in the United States fueled concerns about the repercussions of the pandemic on the recovery economic.
At 5:40 am GMT, the spot price of gold rose 0.2% to $ 1,892.15 an ounce, having peaked since November 9 at $ 1898.81 earlier in the session.
While US gold futures rose 0.3% to $ 1892.20 an ounce.
The dollar index hit its lowest level in a week, reducing the cost of the metal for holders of other currencies.
Corona virus infections topped the 11 million level in the United States yesterday, Sunday, as senior advisers to President-elect Joe Biden called for urgent action to deal with the crisis.
“There are still problems inherent in the structures of economies, in particular job creation, which is the biggest problem. Central banks will have to continue to inject liquidity into the markets to close this gap until then. ‘a vaccine is found,’ said Stephen Ince, chief global market strategist at Axi Financial Services. “.
Source: “Reuters”
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