Gold prices slip as stocks, U.S. dollar and yields rise

Gold prices sip early Wednesday “Gold enjoyed some mild reprieve yesterday but continues to hover near its three month lows,” the analyst wrote.

Persistent optimism about the prospects of cures and treatments for COVID-19 has, at least momentarily, overshadowed a rapid acceleration in cases in the U.S. and elsewhere in the world, which would normally underpin a rise in bullion and its sister metal silver, dealers said.

The global tally for confirmed cases of the novel strain of coronavirus that causes COVID-19 climbed to 51.5 million on Wednesday, according to data aggregated by Johns Hopkins University , while the death toll rose to 1.3 million. The U.S. has the highest case tally in the world at 10.3 million and highest death toll at 239,695 or about a fifth of the global totals.

Still, global stocks were mostly higher early Wednesday, with the Dow Jones Industrial Average DJIA, +0.90% poised to reach near […]

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