July 13 (Reuters) - Gold prices edged higher on Monday, holding above the key $1,800-per-ounce level, as worries over surging coronavirus cases around the world kept the safe-haven metal underpinned. FUNDAMENTALS * Spot gold was up 0.1% at $1,800.71 per ounce by 0033 GMT. U.S. gold futures rose 0.2% to $1,804.90. * More than 12.83 million people have been reported to be infected by the novel coronavirus globally and 565,626 have died, according to a Reuters tally. * Florida reported a record increase of more than 15,000 new cases in 24 hours on Sunday, as the Trump administration renewed its push for schools to reopen and anti-mask protests were planned in Michigan and Missouri. * U.S. President Donald Trump said on Friday he was not currently thinking about negotiating a "Phase 2" trade deal with China as relations between Washington and Beijing sour over the pandemic and other issues. * Gold is used as a safe investment during times of political and financial uncertainty. * Speculators increased their bullish positions in COMEX gold and silver contracts in the week to July 7, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. * Asian shares got off to a firm start as investors wagered the U.S. earnings season would see most companies beat forecasts given expectations had been lowered so far by coronavirus lockdowns. * The dollar index held steady against a basket of major currencies. * Physical gold sold at a premium in India last week for the first time this year, driven by plunging imports and a near halt in smuggling that offset the impact of high unemployment and a rise in domestic prices across Asia that could deter buyers. * Palladium gained 0.5% to $1,979.96 per ounce, platinum rose 1.3% to $824.80 and silver climbed 0.5% to $18.75. (Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu Sahu)
Delayed 06:49:38 2024-06-19 pm EDT | 5-day change | 1st Jan Change | ||
2,330 USD | +0.07% | +0.38% | +12.93% |
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Stocks mentioned in the article
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903.1 USD | +1.37% | +0.23% | - | ||
29.77 USD | +0.87% | +0.76% | - | ||
1.075 USD | +0.06% | -0.62% | - | ||
- PTS | -.--% | +1.02% | - | ||
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