An employee shows gold bullion at Degussa shop in Singapore in 2017. The precious metal has rallied 17% this year as governments and central banks implemented stimulus measures to aid economies battered by the pandemic. "Gold is benefiting from the growing concern that the Covid-19 has been badly underestimated," said Gavin Wendt, senior resource analyst at MineLife Pty. It’s a double-whammy that’s enormously supportive for gold prices that will likely push them to record highs." Gold futures rose as much as 0.6% to $1,790.40 an ounce on the Comex, and traded at $1,787.20 at 7.10am in London.

Source: Bangkok Post June 29, 2020 06:54 UTC