Gold prices edged higher on Wednesday, hovering near an eight-year high, as a spike in COVID-19 infections in the United States assuaged hopes of a swift economic rebound, pushing investors towards the safety of bullion.
Spot gold edged up 0.1% at $1,782.21 per ounce by 0115 GMT, after hitting its highest since early October 2012 at $1,785.46 in the previous session.
U.S. gold futures eased 0.1% to $1,799.30.
Fresh U.S. coronavirus cases could more than double to 100,000 per day if the current surge spirals further out of control, the government’s top infectious disease expert warned on Tuesday.
Source : Reuters