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Gold Resumes Gains after Brief Correction

M. Ali 13 August, 2020 12:53 am Commodities, Market Update

Gold prices seem to have recovered from a strong correction wave on Tuesday, after closing higher on Wednesday, which reflects the high demand for the precious metal as a safe haven.

According to market analysts, the losses of Tuesday were also due to an increase in the U.S. Treasury yields.

The yellow metal futures for December finished Wednesday higher by $2.70 or 0.1% at $1,949 per ounce.

Meanwhile, the silver futures for September delivery declined by 0.3% and settled at $25.979 per ounce.

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