[Golden Scout] Gold Price Went Up, Boosted By U.S. Jitters & Weak Dollar

Illustration photo of Gold from Reuter.

Gold price went up on Tuesday morning, boosted by a weak dollar and concern over the potential economic impact from the ever-rising number of COVID-19 cases.

There are over 43.4 million COVID-19 cases globally as of October 27, according to Johns Hopkins University data.

Gold futures were up 0.24% at $1,910.30 by 12:58 a.m. (ET) or 4:58 a.m. (GMT), staying above the $1,900 mark. The dollar was down on Tuesday morning.

The U.S., Russia and France saw record numbers of daily COVID-19 cases, with restrictive measures re-introduced in some European countries. The worries over the potential economic impact of the measures dampened sentiment and drove investors to the safe-haven yellow metal.

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