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Gold prices rose earlier on Monday in Asia, remaining above the $1,800 as the COVID-19 pandemic continues to worsen around the world.
Gold futures slipped by 0.29%, trading at $1,807.15 per ounce by 12:47 AM ET (05:47 AM GMT). Investors flocked to the safe-haven after a surge of COVID-19 cases across the globe dampened hopes of a swift economic recovery.
As of July 12, the total number of new cases in a single day surged to a record 230,370, according to the World Health Organization (WHO). Data from the Johns Hopkins University shows that there are over 12.9 million cases globally, as of July 13.
In addition, political tensions brewing between the U.S. and China also soured investors’ risk sentiment for the yellow metal.
U.S. President Donald Trump announced that Washington would no longer be resuming with phase two of the trade deal with China. Investors are currently keeping an eye out for China’s reaction to the statement.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
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 ...
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, ...
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