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Gold prices sink with stocks as rise in coronavirus cases sparks rush to dollars

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Gold prices were seeing a sharp drop to start the last full week of September as an apparent flight to dollars, partly fueled by rising global risks that included renewed COVID-19 lockdown measures in Europe, pressured bullion lower.

A selloff across global equity markets, tied in part to worries over the rise in COVID-19 cases and the potential for the renewal of restrictions on activity, as well as uncertainty over a fresh round of government relief, added to the negative tone, analysts said.

“Surging coronavirus cases and doubts over the next over the next round of [U.S.] fiscal support is triggering a wide range risk averse tone that is sending the…



Source marketwatch.com

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