Bullion Sees Gains to Begin the Week
APMEX
7/6/2020 8:37:16 AM
The spot price of Gold was up nearly $6 to $1,794.10 an ounce in the early hours of Monday morning. Platinum also rose almost $17 to $849.90 an ounce, while Silver gained about 40 cents to $18.50 and Palladium climbed $16 to $2003.60.
Global stimulus measures created to cushion economies from the fallout of COVID-19 lockdowns and lower yields have lifted gold nearly 17% so far this year. A deterioration of U.S.-China trade relations may also deliver some bullion buying momentum.
COVID-19 cases continued to soar in countries including India, Mexico and Australia. 15 U.S. states have reported record surges in new cases of COVID-19 since re-opening in early July, causing some to halt plans to ease lockdowns.
Global stock markets also rallied to four-week highs, and China’s yuan headed for its best day against the U.S. dollar since December.
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