Gold jumps above $1,800 after news of Botswana Covid variant

Gold prices jumped on Friday, to rise again above the $1,800 barrier, while on track for the second straight daily gain, due to strong safe-haven demand, after a new coronavirus variant emerged, which the scientists call Botswana.

Gold prices rose 1.1% to $1,809.02 an ounce, after opening at $1,789.08, and hit a low at $1,789.08.

Gold gained less than 0.1% yesterday, the first gain in 6 days, within recovery from a 3-week low of $1,778.45 an ounce.

Scientists confirmed that the variant may lead to further spreading of the coronavirus, according to the Independent newspaper.

Scientists said that the new variant has 32 mutations in the spike protein, which would help it escape more easily from the human immune system and spread quickly.

Gold stocks at the SPDR ETF remained unchanged on yesterday, with the total at the highest level since September 24 of 991.11 metric tonnes.