View full page at metalsmine.com

 

Gold gains as new Covid-19 variant lifts safe-haven demand

From miningweekly.com

Gold prices gained on Friday, as concerns over the spread of a newly identified coronavirus variant boosted the metal's safe-haven appeal, although bullion was set for a weekly drop on growing bets the US Federal Reserve could turn more hawkish. Spot gold was up 0.5% at $1 797.46/oz, as of 04:45 GMT. US gold futures advanced 0.8% to $1 797.70.The variant, detected by scientists in South Africa, may be able to evade immune responses and has prompted Britain to hurriedly introduce travel restrictions on the African nation. Further aiding gold's climb, the dollar index eased 0.2% from a 16-month peak scaled earlier this ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis