Gold set for third straight weekly gain as virus cases soar – ZAWYA

Gold set for third straight weekly gain as virus cases soar – ZAWYA

Gold set for third straight weekly gain as virus cases soar | ZAWYA MENA Edition HomeMarketsCommoditiesArticleGold set for third straight weekly gain as virus cases soar Spot gold was up 0.1% at $1,762.79 per ounce    Image used for illustrative purpose. A one kilo gold bar is displayed in a shop in Dubai's gold souk, April 11, 2006. Gold prices edged higher on Friday and were headed for a third weekly gain on worries about rising coronavirus infections worldwide, although a firm dollar and a gain in equities blunted safe-haven demand.Spot gold was up 0.1% at $1,762.79 per ounce as of 0718 GMT. Bullion has risen more than 1% so far this week, with prices scaling a near eight-year high of $1,779.06 on Wednesday. U.S. gold futures rose 0.1% to $1,772.90."The amount of money pumped in by governments definitely supports gold as a safe haven, with this COVID-19 situation still around," said Brian Lan, managing director at Singapore dealer GoldSilver Central, amid low interest rates globally.Spot gold was up 0.1% at $1,762.79 per ounce as of 0718 GMT. Bullion has risen more than 1% so far this week, with prices scaling a near eight-year high of $1,779.06 on Wednesday. U.S.