Because of growing concerns about the rapidly spreading Delta breed of Covid-19 and its economic impact, gold prices climbed in two weeks to hover near the highest level, boosting demand for yellow metal.

Gold in spot transactions rose 0.4 percent to $ 1792.42 an ounce, having reached its highest level since August 6, 2021 at $ 1795.25 the previous session.

That comes as U.S. gold futures have increased 0.3 percent to $ 1793.50.

"The most prominent problem is Delta lineage and whether it will significantly affect global recovery," said Jeffrey Haley, senior market analyst for the Asia-Pacific region at Oanda. In this situation, gold is likely to find more purchase seeking refuge. "

He added: "However, gold faces difficulties to exceed the levels of great technical resistance between $1800 and $1850. The fate of gold will be decided by the Open Market Committee of the United States Federal Reserve and whether to hint at an imminent reduction of stimulus in September 2021. "

Risk morale remains weak in broader financial markets, while Asian equities are near their lowest level since the beginning of the year as the dynasty engulfs the delta of the region.

Boosted by signs of a slowdown in the economy, retail sales in the United States fell by more than expected in July 2021.

For other precious metals, silver rose 0.5 percent to $23.75 an ounce, while platinum climbed 1.1 percent to $1008.60.

Palladium increased 1.7 percent to $25,322.18, rebounding from the low level of about two months recorded yesterday Tuesday.