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Gold prices fell on Thursday morning in Asia, retreating from gains made in the previous session.
Gold futures fell by 0.49% to $1,743.45 at 12:46 AM ET (5:46 AM GMT). Investors remained cautious as effects of the COVID-19 pandemic on the global economy continued to batter the yellow metal.
Stocks, which move inversely to gold, were mixed earlier on Thursday.
Risk sentiment soured after a record number of cases impacted countries such as Brazil and Mexico.
India and Spain have extended lockdowns in a bid to contain the coronavirus. However, other countries continue to ease quarantine measures as the number of infected cases decreased.
Japanese Prime Minister Shinzo Abe will announce later in the day if the state of emergency will be lifted in Osaka, Kyoto, and Hyogo.
In the U.S., minutes from a Fed meeting for April confirmed that it would continue to keep its near-zero interest rates until after the economy recovers from the COVID-19 pandemic.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
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