Gold rises with the weakening of the dollar and the escalation of injuries from “Corona” – Economy – Arab and International


Gold rose today, thanks to the weakness of the dollar as investors study the logistical challenges surrounding the massive production of a possible “Covid-19” vaccine in light of the increase in new infections with the “Corona” virus, which strengthens the bet on greater economic support.

And gold rose in the spot market 0.1% to 1878.54 dollars an ounce by 0721 GMT.

There was little change in the price of the metal in futures trading in the United States at $ 1876.40.

The dollar index fell 0.1%, making gold more attractive to holders of other currencies.

Yesterday, Fed policymakers said that the high number of coronavirus infections threatens to slow economic growth in the United States again in the coming months, and that more focused government aid is needed.

Gold fell 4.6% in immediate trading on Monday, which is the biggest daily loss since August 11, after the pharmaceutical company, Pfizer, announced that its Covid-19 vaccine was more than 90% effective according to the results of initial experiments, which supported the demand for The risk.

However, this breakthrough highlights logistical challenges to distribute hundreds of millions of doses when they become available.

Among other precious metals, silver rose 0.3% to $ 24.29 an ounce, platinum rose 0.3% to $ 885.45, and palladium rose 0.4% to $ 2463.64.

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