Reduced risk sentiment helps gold - analyst Dollar firms near multi-month highs (Updates prices)
July 20 (Reuters) - Gold prices climbed on Tuesday as concerns over the economic damage from surging Delta coronavirus cases, and a dip in U.S. Treasury yields boosted the safe-haven metal’s appeal.
Spot gold rose 0.6% to $1,823.06 per ounce by 1254 GMT, having hit a low of $1,794.06 in the previous session. U.S. gold futures gained 0.8% to $1,824.20.
“The great problem currently is the fear about the economic impact of the Delta variant of the coronavirus and after Japan took severe measures concerning the Olympic Games, markets got more and more nervous, resulting in a flight into safe havens,” said Quantitative Commodity Research analyst Peter Fertig.
Gold prices climb as Covid drives safe-haven demand
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