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Gold Settles at New Record Level

M. Ali 27 July, 2020 10:06 pm Commodities, Market Update

Gold prices rose on Monday to a new record high, with the US Dollar continuing to decline and demand for safe havens increasing amidst worries regarding the COVID-19 pandemic.

Gold futures for August settled higher by $33.50 or 1.8% to settle at $1,931 per ounce, registering its second historic highest level after breaking the record that stood since 2011 on Friday.

Meanwhile, silver finished at its highest closing level since August 2013, as the September futures gained $1.65 or 7.2% and closed at $24.501 per ounce.

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