Commodities

Gold Dips as Focus Shifts To Stocks

Gold-Dips-as-Focus-Shifts-To-Stocks

Gold witnessed a marginal drop in the morning session on Friday in Asia after stocks markets globally surged unanimously.

Gold futures slipped down to $1,874.90 by 0.11 per cent at 4:48 AM GMT. The stocks markets stole attention from the yellow metal as almost every big stock indices felt a significant boost.

The factors that forced the precious metal on the contrary direction include increasing coronavirus cases in Europe with France and the United Kingdom recording the highest number of victims daily. On the other hand, the president of the US Donald Trump refused to if he would take a peaceful transition upon losing elections. However, these elements were not enough to encourage gold prices to move up.

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