Gold hits highest since October 2012

Tuesday, 23. June 2020 15:27

Gold surged to its highest level in nearly 8 years on Tuesday as concerns over the coronavirus pandemic continued to mount. Germany's Robert Koch Institute reported the virus reproduction rate surged in the country, fueling concerns over a second COVID-19 wave in Europe's largest economy.

Meanwhile in China, authorities raced to fight off what appears to be a second wave of the virus centered around Beijing's food markets. In addition to the virus concerns, tensions on the Korean Peninsula and between China and the United States also propped up the safe-haven asset.

After reaching a high of $1,767.22, gold was up 0.45% to $1,762.70 per ounce at 9:30 am ET.

Related Links: 
Breaking the News / JC