Gold Closes at Two-Month High

Gold prices rose on Wednesday for the second consecutive session to close at their highest level in about two months, supported by the decline of the U.S. Dollar (USD).

The rapid resurgence of the coronavirus with a third wave of the pandemic is increasing demand for safe havens and negatively impacting risk appetite among investors.

Gold futures for June delivery finished higher by $14.70, or 0.8%, at $1,793.10 per ounce.

This is the highest closing level for the yellow metal’s most-active contract since February 24.