Concerns about the economic fallout of the pandemic are helping the metal remain above the $1,800/oz level
Bengaluru — Gold held steady above the key $1,800/oz level on Thursday, as worries over mounting Covid-19 cases offset hopes of a swift global economic recovery.
“Gold is looking very bullish both in the short and long term … It has enough catalysts to take it to record territory before the end of the year,” said Moya. Meanwhile, Britain’s finance minister promised an additional $38bn to head off an unemployment crisis.Providing further support to gold, the dollar traded near multi-week lows.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19: COVID-19 pandemic plunges working world into crisis – ILOGENEVA, July 8 (Reuters) - Global leaders called for a comprehensive approach to counter the impact of the coronavirus pandemic, which International Labour Organization chief Guy Ryder said on Wednesday had plunged the world of work into 'unprecedented crisis'.
Read more »
Rand weakens amid growing number of Covid-19 cases globallyThe local currency market remains rangebound
Read more »
City of Tshwane's head administrator concerned about increasing Covid-19 cases in her teamLebogang Mahaye said her team of administrators had been working from home since some members tested positive for Covid-19.
Read more »
Covid-19 cases in Africa pass a half-million mark, SA now a new global hotspotConfirmed coronavirus cases across Africa exceed 508 000 after South Africa recorded another day of more than 10 000 confirmed cases as a new global hot spot.
Read more »
These are the 10 Cape suburbs with the most Covid-19 casesGugulethu continues to be the leading suburb in the province with regard to Covid-19 cases, according to the latest monthly round up on the provincial dashboard. TheCapeArgus
Read more »
200,000 Covid-19 cases confirmed in SA, as 8,975 new infections recordedThere were 8,975 new cases of the virus reported since Sunday, taking the national total from 196,750 cases to 205,721 - and in the process passing Germany to become the 15th or 14th worst-hit country in the world in terms of total cases.
Read more »