Gold closes at highest level since late June

Economies.com
2020-07-06 19:48PM UTC

Gold futures rose on Monday, as the US dollar fell against its peers, and amid fears over the spike in coronavirus infections.

 

Data showed that more than 23 US states have seen a surge of infections of the coronavirus over the past few days.

 

Democratic state governors in the US have criticized President Donald Trump's remarks about the virus, and some of them backed away from the economic reopening measures.

 

The US services PMI rose to 57.1 points in June, which is the largest monthly rise ever, vs. 45.4 points in May.

 

The dollar index fell against a basket of currencies by 0.4% to 96.7 points as of 19:37 GMT, after it hit a high of 97.2 and a low of 96.5.

 

Gold August futures rose 0.2%% to close at $1,793.5 an ounce, after hitting a day high of $1,799 and a low of $1,779.

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