Gold tops $1,800 first time since 2011

Wednesday, 08. July 2020 10:46

Gold prices continued to rise on Wednesday with the yellow metal climbing over $1,800 per ounce for the first time in over eight years.

Investors turned to the safe-haven asset as new spikes in coronavirus cases continued to drag stock markets down. The World Health Organization (WHO) warned the pandemic is yet to reach its peak, while the United States reported over 60,000 daily infections for the first time since the outbreak started.

Minutes after reaching a session high of $1,800.58 per ounce, gold added 0.23% to go for $1,799.31 per ounce at 4:54 am ET.

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Breaking the News / NP