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Gold rises as weaker dollar lifts demand

Gold prices rose on Thursday, holding firm above the key $1900 per ounce level, as a weaker US dollar and concerns over the global economic recovery from the mounting COVID-19 cases boosted demand for the safe-haven metal.

FUNDAMENTALS

Spot gold was up 0.7% at $1,930.78 per ounce by 0034 GMT. US gold futures eased 0.5% to $1,940.

The dollar index fell 0.2% against its rivals, making gold less expensive for holders of other currencies.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.