Gold traded lower earlier on Thursday in Asia but still remained above the $1,800 mark for three consecutive days.
Gold futures lost 0.04% to $1,819.95 per ounce at 10:22 PM ET (3:22 AM GMT), with the yellow metal holding on to gains from previous sessions. The safe-haven asset has managed to reach record levels since 2011 as investors flocked to gold amid the COVID-19 pandemic.
The number of global cases reached over 12 million as of July 9, according to data from Johns Hopkins University.
However, as the number of cases continues to grow, investors still remain optimistic for signals of an economic recovery with key earnings reports from companies such as Apple and Amazon, which is due in the following week. Investors will also be eyeing for the U.S. Federal Reserve's next moves, with most of their attention on the Congress’ $2 trillion stimulus program, which will expire at the end of July.
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 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 ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
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 ...
The U.S. Federal Reserve eased another $2 million in emergency loans this week to help struggling U.S. businesses amid the recession. The Fed’s overall asset portfolio reported growth for the second week, holding above $7 trillion. The ...