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Gold is stabilizing with the market tugging between virus fears and the dollar's rise
Gold prices stabilized on Monday, October 26th, as the market tied between investor concern about a sharp increase in cases of Covid-19 and the US presidential election race and the rise of the dollar.
Spot gold rose 0.1% to $ 1,902.60 an ounce in late trading session, after it had retreated from $ 1900 in early trading.
US gold futures also settled to record at the settlement of $ 1905.70 per ounce.
A jump in new coronavirus infections is negatively impacting investor sentiment to take risks as cases in the United States reach record levels.
In Europe, Italy and Spain imposed new restrictions.
Among other precious metals, spot silver fell 1.2% to $ 24.28 an ounce, while palladium fell 1.6% to $ 2355.10 an ounce, and platinum fell 3.2% to $ 872.47 an ounce.
