Gold Soars To Seven Week Top Near $1780 Per Ounce

Published on Apr 19, 2021 09:56

COMEX Gold futures moved up impressively, hitting seven week high near $1780 per ounce as the metal stayed firm despite rising equities. Soaring global Covid-19 cases despite accelerating pace of vaccinations boosted the metal. The number of people who have died worldwide in the Covid-19 pandemic has surpassed three million, according to Johns Hopkins University. The World Health Organization (WHO) has warned that the world was approaching the highest rate of infection in the pandemic so far. Almost 140 million cases have been recorded since the pandemic began. WHO`s top official stated that cases and deaths have doubled over the past 2 months and are at worrying rates. Gold is back to the winning waves that pushed it to a fresh high last year.