Gold Price Moves Higher As COVID-19 Concerns Boost Safe-Haven Appeal

Gold prices rose on Monday as worries over a surge in COVID-19 infections globally dented optimism about a swift economic rebound, driving investors toward the safe-haven metal. Spot gold was 0.1 per cent higher at $1,772.30 per ounce by 0644 GMT (12:14 pm in India). Prices were $6.76 shy of a near eight-year high of $1,779.06 per ounce, hit last week. US gold futures rose 0.3 per cent to $1,786 per ounce.