PRECIOUS-Gold gains as fresh virus wave looms over economic recovery

PRECIOUS-Gold gains as fresh virus wave looms over economic recovery

* Palladium to test $2,600/oz by mid-2021 -UBS * Interactive graphic tracking global spread of coronavirus: here (Updates prices) By Eileen Soreng Oct 27 (Reuters) – Gold prices rose on Tuesday as a weaker dollar and a fresh wave of coronavirus infections threatened to further slow down a global economic recovery from the COVID-19 pandemic, bolstering bullion’s safe-haven appeal. Spot gold was 0.1% higher at $1,903.16 per ounce by 0801 GMT. U.S. gold futures were steady at $1,906.50. "The resurgence of COVID-19 is leading to a broader risk-off sentiment in global markets and this is supportive of safe-haven assets," said Harshal Barot, senior research consultant for South Asia at Metals Focus. "Investors are clearly not bearish on gold at the moment… Long-term investors continue to hold gold amid the broader uncertainty, be it the U.S. elections or the pandemic," Barot added. Many countries, including the United States, Russia and […]

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