© Reuters. By Gina Lee
Investing.com – Gold was up on Tuesday morning, boosted by a weak greenback and concern over the potential financial influence from the ever-rising variety of COVID-19 instances.
There are over 43.4 million COVID-19 instances globally as of Oct. 27, in accordance with Johns Hopkins College knowledge.
had been up 0.24% at $1,910.30 by 12:58 AM ET (4:58 AM GMT), staying above the $1,900 mark. The was down on Tuesday morning.
The U.S., Russia and France noticed file numbers of each day COVID-19 instances, with restrictive measures re-introduced in some European nations. The concerns over the potential financial influence of the measures dampened sentiment and drove traders to the safe-haven yellow metallic.
Within the U.S., talks over the most recent stimulus measures appeared to have come to a halt, with White Home financial adviser Larry Kudlow on Monday saying talks have slowed. Nonetheless, Home of Representatives Nancy Pelosi remained optimistic {that a} consensus with Senate Republicans may very well be reached on the measures earlier than the presidential election, now solely per week away.
On the info aspect, the U.S. reported a fall in September’s new single-family properties gross sales, after 4 consecutive months of will increase. Nonetheless, the housing market continues to be supported by low mortgage charges and elevated demand for home-office house on account of COVID-19. Additional knowledge, together with third quarter GDP, is because of be launched later within the day.
Throughout the Atlantic, the U.Ok. and the European Union (EU) are working towards the clock to bridge gaps and seal a Brexit commerce deal. Michel Barnier, the EU chief negotiator, will head to London to renew negotiations.
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