Gold prices rose on Monday, holding ground above the key $1,800/oz level, as a weaker dollar and worries over surging COVID-19 cases around the globe kept the safe-haven metal underpinned.
Spot gold was up 0.3% at $1,803.80 per ounce by 08:33 am. U.S. gold futures rose 0.4% to $1,809.10.
The medium-term outlook for the economic recovery still looks very uncertain and this continues to provide ample room for gold to float higher, Innes added.
More than 12.83 million people have been reported to be infected by the novel coronavirus globally and 565,626? have died, according to a Reuters tally.
Coronavirus infections in the United States continued to surge over the weekend as Florida reported a record increase of more than 15,000 new cases in 24 hours on Sunday.
Elsewhere, palladium gained 0.9% to $1,987.77 per ounce, platinum rose 2.4% to $834.05 and silver climbed 1% to $18.86.
11 Aug 2020 02:42 PM
The Indian rupee logged its best day against the dollar in three weeks, tracking buoyant risk appetite in the region
11 Aug 2020 02:13 PM
The British pound held near five-month highs on Tuesday against a broadly steady greenback even as data showed job losses in Britain spiked
11 Aug 2020 11:48 AM
India's Nifty 50 index hit a five-month high on Tuesday as signs of a recovery in Chinese economic activity powered gains in metal stocks, with less worse-than-feared domestic earnings reports also helping sentiment amid a rise in coronavirus cases.
11 Aug 2020 10:46 AM
Gold fell on Tuesday as the dollar firmed after Beijing slapped sanctions on U.S. officials in the latest flare-up in tensions between Washington and Beijing, with investors also keeping a close watch on negotiations over a U.S. stimulus plan.
11 Aug 2020 10:34 AM
The Indian rupee was at 74.83/74.84, against 74.8925/74.9025 in the previous session
11 Aug 2020 09:46 AM
Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen.