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Gold prices fell earlier on Monday, losing a portion of its gains from the earlier session as fears mounted over the surge of new cases of COVID-19 in several countries during the weekend.
Gold futures slid by 0.15% at $1,734.65 per ounce at 11:53 PM ET (04:53 AM GMT).
Beijing reported 57 new cases on June 13 after weeks of reporting only single-digit numbers. The outbreak is said to have originated in the Xinfadi market district.
Tokyo also reported its highest number of new cases in May, with 27 of the 47 reported cases originating from nightclubs and bars that have only recently opened.
Record numbers of cases were also reported in the U.S. states, including Florida and Texas where lockdown measures were recently re-opened.
Stocks, which has been often observed to move in the opposite direction to gold, were also mostly down on Monday.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
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 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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. ...
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