PRECIOUS-Gold holds steady as virus wave offsets vaccine hopes

PRECIOUS-Gold holds steady as virus wave offsets vaccine hopes

Nov 13 (Reuters) – Gold prices were little changed on Friday, as fears of an economic impact due to a surge in global cases of COVID-19 countered optimism from the developments in a potential vaccine. FUNDAMENTALS * Spot gold was steady at $1,876.92 per ounce by 0044 GMT. It was headed for its worst weekly performance since late-September, declining 3.8% so far. * U.S. gold futures were up 0.1% at $1,874.50. * The dollar index held steady but was on track for a 0.7% weekly gain. * The heads of the Federal Reserve and the European Central Bank welcomed the encouraging results in trials of a vaccine candidate for COVID-19 but stressed that the economic outlook will remain uncertain. * The number of Americans filing new claims for unemployment benefits fell to a seven-month low last week, but the pace of decline has slowed and further improvement could be […]

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