Gold steadies near record high as virus concerns persist – ZAWYA

Gold steadies near record high as virus concerns persist – ZAWYA

Gold steadies near record high as virus concerns persist Gold $8.30 shy of record high hit on Monday    A 1000 gram gold bar is seen at the Kazakhstan's National Bank vault in Almaty, Kazakhstan September 15, 2017. Gold prices held steady near record highs on Tuesday as worries over the global economic fallout from mounting COVID-19 cases offset pressure from a rebound in the U.S. dollar.Spot gold was steady at $1,976.36 per ounce by 0231 GMT, $8.30 shy of the all-time high hit in the previous session. U.S. gold futures rose 0.3% to $1,993."The coronavirus problem is going to be with us for a while. It seems that economies around the world will be very fragile for an extended period of time," said Edward Meir, analyst at ED&F Man Capital Markets.Spot gold was steady at $1,976.36 per ounce by 0231 GMT, $8.30 shy of the all-time high hit in the previous session. U.S. gold futures rose 0.3% to $1,993.Gold prices held steady near record highs on Tuesday as worries over the global economic fallout from mounting COVID-19 cases offset pressure from a rebound in the U.S. dollar."They (economies) would require stimulus, monetary easing and lower interest rates to cushion