Commodities

Gold Down Amid Uncertainty Over Covid-19

Gold down amid uncertainty over covid-19

Following the footsteps of oil, the yellow metal took another plunge in the financial market on Friday. Even after the increasing number of patients in Europe and the US, investors are wary of investment even in the safe-haven commodity. Also, the stalemate over the stimulus package for battling COVID-19 in the US Congress is further pushing the gold prices down.

Gold futures slipped to $1,908.30, a downfall of 0.03 per cent by 4:36 AM GMT. However, the weakening dollar managed to cap losses.

Notably, there are more than 38.8 million cases of pandemic globally, where 7.9 million belong to the US alone as of October 16.

Leave a Reply

Your email address will not be published. Required fields are marked *