empty
 
 

2020.05.1210:46:00UTC+00Gold Prices Rise On Fears Over New Virus Outbreak

Gold prices rose on Tuesday as growing fears about a second wave of coronavirus infections fueled safe-haven investment demand for the precious metal.

Spot gold rose half a percent to $1705.30 an ounce, after having fallen for two straight sessions. U.S. gold futures were up 0.7 percent at $1,710.15 an ounce.

China, Germany and South Korea have reported new clusters of coronavirus cases, highlighting the potential threat of reopening economies too quickly.

Russia overtook Italy and Britain to report the world's highest tally of cases after the United States and Spain, but President Vladimir Putin announced plans to ease nationwide lockdown measures from Tuesday.

Germany's Robert Koch Institute reported that the "reproduction rate" - the number of people each person with the disease goes on to infect - had risen to 1.1, meaning that the virus is spreading exponentially.

Negative rates are "among the weaker tools in the toolkit," Atlanta Federal Reserve bank president Raphael Bostic said in webcast remarks, reiterating the broad view among Fed officials that the U.S. is unlikely to use a policy approach currently used in Europe and Japan.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback