Gold Rate Near 8-Year Peak As Growing COVID-19 Fears Lift Demand

Gold rose to its highest in nearly eight years on Wednesday, as demand for the safe-haven metal was boosted by worries about the global economic impact of surging coronavirus infections in many countries. Spot gold was up 0.4 per cent at $1,788.06 per ounce by 0743 GMT (12:47 pm), its highest level since early October 2012. US gold futures rose 0.4 per cent to $1,807.10 per ounce.