Gold was set for a fifth straight weekly gain on Friday as worries over a spike in U.S. coronavirus cases kept the safe-haven metal near the technical $1,800-per-ounce threshold.
Spot gold was little changed at $1,801.47 per ounce by 08:19 am, up nearly 1.5% for the week. U.S. gold futures rose 0.2% to $1,806.80.
More than 60,000 fresh COVID-19 cases were reported across the United States on Wednesday, the largest one-day increase by any country since the pandemic emerged in China last year.
Data showed U.S. shoppers were staying out of stores in areas where cases are rising the most, dampening hopes of a quick recovery in the world's biggest economy.
Surging cases also boosted the dollar, making gold more expensive for holders of other currencies.
Palladium fell 0.2% to $1,938.30 per ounce, platinum declined 1% to $825.09, and silver slipped 0.4% to $18.60.
03 Aug 2020 11:44 AM
Indian shares fell for the fourth straight session on Monday as banking stocks tumbled on mixed expectations for an upcoming interest rate decision, while surging domestic coronavirus cases also dented sentiment.
03 Aug 2020 11:18 AM
The yuan was steady on Monday after booking its best month in nine in July, as investors kept a wary eye over tensions between Beijing and Washington and the fate of popular short-video app TikTok's U.S. operations.
03 Aug 2020 10:44 AM
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.
03 Aug 2020 10:34 AM
The Indian rupee was at 74.91/74.92 to a dollar, against 74.81/74.82 in the previous session
03 Aug 2020 09:47 AM
Oil prices fell on Monday on concerns about oversupply as OPEC and its allies, together known as OPEC+, are due to pull back from production cuts in August while an increase in COVID-19 cases worldwide raised fears of a slower pick-up in fuel demand.
03 Aug 2020 09:18 AM
The U.S. dollar ticked up in early Monday trade, clinging to its rebound late last week