Gold Prices Remained Horizontal With Increasing Number of Cases

Gold Prices Remained Horizontal With Increasing Number of Cases Gold prices remained horizontal with increasing number of cases. The vaccine news suppressed the increase in coronavirus cases worldwide, causing gold prices to follow a horizontal course. Gold followed a flat course at $ 1,880 as positive vaccine news suppressed concerns about rising coronavirus cases. While New York Mayor Bill de Blasio stated that schools in the city could be closed again, more than 1 million cases were recorded in California. While France and England reached record numbers of cases, large-scale quarantine began to be implemented in Portugal. Despite the news that the vaccine to be used to combat the coronavirus epidemic is more than 90 percent effective, hopes have increased, three key central bank governors noted that the vaccine will not end the economic difficulties encountered. According to the report released by Fitch Solutions, low bond yields, weak dollar, and geopolitical tensions will affect gold prices in the next quarter, gold earnings will be limited next year as the economic recovery and increased use of vaccines, with gold prices trading at an average of $ 1,850 per ounce. Spot gold was traded at $ 1,879.37 an ounce, gaining 0.1 percent at 10:03 am Singapore time after gaining 0.6 percent on Thursday. Silver prices saw a slight change, while the Bloomberg Dollar Spot Index remained stable after two days of rising.