Gold benefits from concern about second wave of Covid-19

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The metal is firmer as investors turn to riskier assets amid worry about resurgence of coronavirus cases

Gold granulate is seen at a plant of gold refiner and bar manufacturer Valcambi in the southern Swiss town of Balerna. Picture: REUTERS/MICHAEL BUHOLZER

The dollar was on the defensive against its rivals as traders looked to Federal Reserve chair Jerome Powell’s speech amid rising speculation the US could one day adopt negative interest rates. US businesses and households are going to need more fiscal support to get through what will likely be a longer period of recovery from the shutdown than initially expected, Federal Reserve policymakers said.

 

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