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'Record-Highs in Sight': Gold on Path North of $1,800 This Week - Analysts

Monday, 13 July 2020 15:47 WIB Gold Outlook Gold Corner

Gold is rallying for the fifth week in a row and the bullish trend is targeting the 2011 record-highs in USD-terms, according to analysts. At the time of writing, gold was holding on above $1,800 an ounce with August Comex gold futures trading at $1,808.30, up 0.25% last week. Investors seem to be torn between hopes of an economic recovery and the worrying number of rising coronavirus cases in the U.S., which could slow everything down again. The U.S. reported 60,000 new cases last Thursday - a new daily record high. Despite the bullish trend in gold, equities climbed higher Friday, largely ignoring the COVID-19 concerns. "Reopening might be not as quickly as people thought. Could see...

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