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Gold steady as second Covid-19 wave fears in Beijing weigh on risky assets

Spot gold was steady at $1,729.40 per ounce. US gold futures eased 0.1% to $1,734.90

gold, jewellery
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The metal climbed 2.6 per cent last week, posting its biggest weekly gain since April 10.

Reuters
Gold prices were little changed on Monday after posting their best week since early April as fears of a second wave of coronavirus infections in Beijing cut investors' appetite for riskier assets.
Spot gold was steady at $1,729.40 per ounce as of 0316 GMT. U.S. gold futures eased 0.1 per cent to $1,734.90.
The metal climbed 2.6 per cent last week, posting its biggest weekly gain since April 10.
"The economy is not doing well, we got Covid-19 again and a low interest rate environment, I think gold remains bid," said Stephen Innes, chief market strategist at financial services firm AxiCorp.
"But, we need

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First Published: Jun 15 2020 | 11:54 AM IST

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