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Gold heads for best monthly gain since January 2012 on rush to safety

Prices hit a record $1,980.57 on Tuesday and are up over 10% so far this month, their biggest monthly percentage gain since Feb. 2016

Topics
Gold  | Gold Prices

Reuters 

By Eileen Soreng (Reuters) - Gold rose on Friday and headed for its biggest monthly gain in 8-1/2 years as the impact of the worsening coronavirus pandemic on the U.S. economy hammered the dollar, prompting investors to seek refuge in bullion. Spot gold gained 0.8% to $1,975.10 per ounce by 1207 GMT, while U.S. gold futures rose 1.5% to $1,970.80. Prices hit a record $1,980.57 on Tuesday and are up nearly 11% so far this month, their biggest monthly percentage gain since Jan. 2012. Silver also climbed 3% to $24.25 per ounce, on course for its largest monthly rise on records ...

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First Published: Fri, July 31 2020. 21:16 IST
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