(Reuters) – Gold rose on Friday as increasing coronavirus infections globally re-ignited concerns about the economic toll from the pandemic, while scepticism over the reach of a potential COVID-19 vaccine further boosted the safe-haven metal. FILE PHOTO: Gold bullion is displayed at GoldSilver Central’s office in Singapore June 19, 2017. REUTERS/Edgar Su Spot gold XAU= rose 0.5% to $1,884.76 per ounce by 1:57 p.m. EST (1857 GMT). But bullion was still bound for its worst weekly loss since late September, down 3.4% so far, mainly hurt by initial euphoria over an effective vaccine from Pfizer PFE.N earlier in the week.
U.S. gold futures GCv1 settled up 0.7% at $1,886.20.
“We have got COVID-19 raging in the U.S. and the uncertainty surrounding that and the potential for some more economic damage in the coming months; all that is working in favour of gold market bulls,” Kitco Metals senior analyst Jim Wyckoff said.
Pfizer […]
Click here to view original web page at in.reuters.com
Posting Guidelines
- Do contribute something to the discussion
- Do post factual information, analysis and your view on company valuations
- Do disclose if you have an interest in a security
- Do take our Terms of Use seriously
- Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
- Do not complain about a post unless you have reported it first, and not on the forum.
- Do not post financial advice
- Do not advertise or post sponsored content
Get involved!
Get Connected!
Come and join our community. Expand your network and get to know new people!
Comments