Gold hits new high on soaring Covid-19 cases
Rally continues as spot gold and US gold futures rise amid weaker dollar
07 August 2020 - 08:35
Bengaluru — Gold smashed a record high on Friday as a safety rush fuelled by the worsening coronavirus pandemic and its mounting economic toll gathered pace and put bullion on track for its longest weekly winning streak in nearly a decade.
Spot gold was up 0.3% at $2,069.78/oz by 3.08am GMT after hitting an all-time high of $2,072.50/oz in early trade. It has added 4.7% so far this week in what would be its ninth straight weekly gain. US gold futures rose 0.6% to $2,081.60...
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