Commodity News
HeadLine : Gold holds firm on coronavirus worries, weaker dollar
Date : Jul 20 2020
Gold held firm above the psychological level of $1,800 per ounce on Monday, as a weaker dollar and concerns over surging COVID-19 cases around the globe kept the safe-haven metal underpinned. Spot gold was steady at $1,808.53 per ounce. U.S. gold futures were almost unchanged at $1,809.50. More than 14.38 million people have been reported to be infected by the novel coronavirus globally and 601,961? have died, according to a Reuters tally. The dollar index held close to a more than one-month low hit last week, making gold less expensive for holders of other currencies. Britain will shelve its extradition treaty with Hong Kong on Monday in response to the national security legislation for Hong Kong that the Chinese parliament passed last month, The Times reported. EU leaders stood at an impasse on Sunday after three days of haggling over a plan to revive economies throttled by the COVID-19 pandemic. Speculators reduced their bullish positions in COMEX gold and increased them in silver contracts in the week to  July 14, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday.

Source : Reuters
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