Gold Stays Supported On Soaring Global Covid-19 Cases

Published on Nov 02, 2020 11:41

COMEX Gold futures saw some buying on Friday as soaring worries over the Covid-19 spread provided good support to the metal. The metal had tanked to one month low of $1869 per ounce but edged up thereafter and currently trades at $1884 per ounce, up 0.25% on the day. Fresh lockdown measures have been issued in Europe. The number of coronavirus cases worldwide has crossed 46 million, two days after hitting the mark of 45 million. Gold could see some moderation if the US dollar index maintains its upmove.