gold prices
gold prices

The unprecedented rise in gold prices due to the second outbreak of corona.

Gold climbed to its highest level in almost eight years on Wednesday, as demand for the precious metal, a safe haven, received support from concerns about high incidence of coronavirus infection and hopes for more stimulus to combat economic damage.

And gold rose in spot transactions 0.1 percent to 1767.93 dollars an ounce in early trading today, after touching 1773 dollars, its highest level since October 2012 in early trading in Asia.

US gold futures rose 0.2 percent to $ 1785.80.

"Concerns about the second wave, especially in the United States and also in Latin America, are driving concern about continued weak economic recovery and that certainly supports safe haven assets like gold," said ANZ analyst Daniel Hines.