Gold headed for a fourth weekly gain as concerns over the resurgence of coronavirus cases countered better-than-expected monthly U.S. jobs data.

Texas ordered residents to wear masks, reversing course as it reported its second-most daily infections of the outbreak, while Florida’s largest county, Miami-Dade, will impose a curfew. The novel coronavirus is showing some signs of mutating in a way that may make it easier for the pathogen to spread, according to Anthony Fauci, the director of the National Institute for Allergy and Infectious Diseases. The Centers for Disease Control said fatalities in the U.S. could reach 160,000 by late July.

Spot gold little changed at $1,775.60/oz at 2:50pm in Singapore; +0.3% this week.

Source : Bloomberg