Report

rss

Iraq News

Kurdistan

Economy

World

All News

Gold surges as COVID-19 cases rise globally

Category: Economy

Date: 2020-12-15T10:08:45+0000
Gold surges as COVID-19 cases rise globally

Shafaq News / Gold prices rose on Tuesday as surging COVID-19 cases and restrictions weighed on investors' appetite for traditionally riskier assets and boosted bets for further stimulus ahead of the Federal Reserve's policy meet.

Spot gold rose 0.7% to $1,839.20 per ounce by 07:05 GMT, while U.S. gold futures gained 0.6% to $1,843.80.

The pandemic continued to spread globally, prompting tighter restrictions in Netherlands, Germany, and London, while deaths crossed 300,000 in the United States, pushing Asian equities to a more than one-week trough.

"The recent lockdowns mean that there is going to be more stimulus needed, whether from the (U.S) Congress or the U.S. Federal Reserve," said Stephen Innes, chief global market strategist at financial services firm Axi.

U.S. lawmakers appeared optimistic over a fiscal coronavirus stimulus deal split into two parts in an attempt to win approval, pushing the U.S. dollar to languish near multi-year lows.                   

Silver rose 1.4% to $24.14 an ounce, platinum added 0.2% to $1,009.50 and palladium gained 0.4% to $2,302.47.

related

Gold gains after Capitol siege and slow COVID-19 vaccine rollouts

Date: 2021-01-12 09:53:19
Gold gains after Capitol siege and slow COVID-19 vaccine rollouts

PRECIOUS-Gold inches higher from over 4-month low as dollar weakens

Date: 2020-11-25 10:03:01
PRECIOUS-Gold inches higher from over 4-month low as dollar weakens

PRECIOUS-Gold climbs as Fed chief stays dovish, dollar softens

Date: 2021-07-29 07:58:13
PRECIOUS-Gold climbs as Fed chief stays dovish, dollar softens

Gold prices drop in the Iraqi capital today

Date: 2022-01-06 09:49:50
Gold prices drop in the Iraqi capital today

Gold climbs as dollar, Treasury yields weaken

Date: 2021-10-19 06:27:07
Gold climbs as dollar, Treasury yields weaken

Gold gains on lower U.S. yields even as dollar holds firm

Date: 2021-03-24 09:04:38
Gold gains on lower U.S. yields even as dollar holds firm

Fears over demand eclipse COVID-19 optimism after an overnight soaring of prices

Date: 2020-11-10 06:53:07
Fears over demand eclipse COVID-19 optimism after an overnight soaring of prices

Gold prices drop in the Iraqi capital today

Date: 2021-11-04 10:35:56
Gold prices drop in the Iraqi capital today