Gold soars to record high as virus fears lift safe-haven demand – ZAWYA

Gold soars to record high as virus fears lift safe-haven demand – ZAWYA

Gold soars to record high as virus fears lift safe-haven demand Gold up 30% so far this year    A gold bar is pictured in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, August 14, 2019. Gold prices surged to an all-time high on Monday as fears over an economic fallout from rising COVID-19 cases boosted demand for the safe-haven metal, although gains were capped by an uptick in the U.S. dollar.Spot gold was steady at $1,973.94 per ounce by 0254 GMT, after hitting a record high of $1,984.66 in early Asian trade.U.S. gold futures rose 0.3% to $1,992.30."The sentiment across markets is deteriorating. First of all, rising infection rates are a real concern for the globe and a real support for gold prices. Given that, it is also driving U.S. dollar higher," said Michael McCarthy, chief strategist at CMC Markets.Spot gold was steady at $1,973.94 per ounce by 0254 GMT, after hitting a record high of $1,984.66 in early Asian trade.Gold prices surged to an all-time high on Monday as fears over an economic fallout from rising COVID-19 cases boosted demand for the safe-haven metal, although gains were capped by an uptick in