Gold prices down as fears mount over surging COVID-19 cases

15.06.2020 - Davydova Maria
Gold prices down as fears mount over surging COVID-19 cases

Gold prices fell earlier on Monday, losing a portion of its gains from the earlier session as fears mounted over the surge of new cases of COVID-19 in several countries during the weekend.

Gold futures slid by 0.15% at $1,734.65 per ounce at 11:53 PM ET (04:53 AM GMT).

Beijing reported 57 new cases on June 13 after weeks of reporting only single-digit numbers. The outbreak is said to have originated in the Xinfadi market district.

Tokyo also reported its highest number of new cases in May, with 27 of the 47 reported cases originating from nightclubs and bars that have only recently opened.

Record numbers of cases were also reported in the U.S. states, including Florida and Texas where lockdown measures were recently re-opened.

Stocks, which has been often observed to move in the opposite direction to gold, were also mostly down on Monday.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?