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Gold prices surged to their highest in almost 8 years on Wednesday as global shares showed signs of slowing amid the number of rising COVID-19 cases reeled in caution.
Spot gold gained 0.2% to 1,770.92 per ounce after it had reached a record $1,773.00, its highest since October 2012 during early trade in Asia.
Meanwhile, global shares last traded 0.3% lower and have remained unchanged for the past few weeks. It previously rose more than 40%, rapidly recovering from lows in March as investors hoped that the worst of the pandemic was now behind them.
European stocks last trade 1% lower, while E-Mini futures for the S&P 500 reclaimed lost ground to gain 0.1%.
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 ...
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, ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
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