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Gold prices fell marginally on Wednesday morning in Asia as the COVID-19 pandemic continued to cause economic turbulence.
Gold futures fell by 0.22% at $1,680 per ounce by 9:33 PM ET (2:33 AM GMT), extending losses from the previous session.
Asian stocks also started off with losses on the same day. Prices for the yellow metal often have been observed to move in the opposite direction from stocks. However, the two have followed the same trend in two consecutive days.
Improved investor sentiment also affected gold prices after several countries revealed data that indicated a declining number of new COVID-19 cases.
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 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
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. ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
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