Gold closes higher as market prepares for year-end

Gold prices rose on Wednesday, as the US dollar dropped against most major currencies during the next-to-last session of 2020.

The British health authorities approved the emergency use of the Oxford-AstraZeneca vaccine.

British Prime Minister Boris Johnson said that the vaccine is 90% effective and that it is a victory for science in his country.

Meanwhile, Covid-19 the daily number of infections continues to rise in Britain and the US.

The dollar index fell against a basket of major currencies by 0.3% to 89.7 points as of 19:31 GMT, after hitting a high of 89.9 points and a low of 89.5 points.

Gold February futures rose 0.6% or $10.5, and closed at $1,893.4 an ounce, with today’s high at $1,896.3, and the low at $1,879.5.