Gold hovered above its key $1,800-an-ounce mark, on course for a fifth weekly advance, as investors weighed concern over a resurgence in coronavirus cases hurting the global economy.

Rising infections in the U.S. and Asia have supported havens like gold this week, even as the dollar firmed.

Gold investors are also weighing mixed signs about the health of the U.S. labor market after data showed fewer Americans applied for unemployment benefits, while Wells Fargo & Co., the largest employer among American banks, is preparing to cut thousands of jobs.

Spot gold gained 0.1% at $1,805.92/oz at 10:33 a.m. in London, while Comex gold futures added 0.5%.

Source : Bloomberg