Gold on the rise as investors move to safe havens as virus surges
Safe-haven demand is strongest in countries hit hardest by the coronavirus
08 July 2020 - 12:04
Bengaluru — Gold briefly breached $1,800 an ounce on Wednesday for the first time since 2011 as mounting fears over the fast global spread of the coronavirus sent investors scurrying for safe havens.
Spot gold had risen 0.3% to $1,799.22 an ounce by 8.54am GMT, after hitting its highest since November 2011, at $1,800.18, earlier in the session. US gold futures rose 0.2% to $1,812.90 an ounce. European shares opened lower as soaring Covid-19 cases dented hopes of a swift economic recovery...
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