Gold rose today, after a sharp decline in the previous session, as the cessation of the dollar’s ​​rise fueled purchases of this metal, which is a safe haven, and gold also received support from the increase in cases of Coronavirus.

By 08:05 GMT, gold was trading in spot contracts at $ 1879.71 an ounce, up 0.1% from the previous settlement price.

While US gold futures rose 0.1%, to 1880.10 dollars an ounce.

Vandana Bharti, associate vice president for commodity research at CMC Comtrade, said, "The US elections and the expectation that the dollar index will stop going up is boosting gold."

She added, "In giant economies such as France and Germany, the number of cases of Covid-19 is increasing, and they tend to impose closures again. So in this situation, some buying occurs in gold in search of a safe haven."

Source: "Reuters"

By:Nadeemy Haded