By Administrator_India
Gold was up on Wednesday morning in Asia, with investor worries about rising numbers of COVID-19 cases globally and expectations of further stimulus measures giving the yellow metal a boost.
The number of cases topped 9.2 million as of June 24, according to Johns Hopkins University data.
Gold futures were up by 0.16% at $1,784.85 by 12 PM ET (5 AM GMT), its highest mark since October 2012.
Stocks, which usually move in the opposite direction to gold, were mostly up on Wednesday.
Gold got a further boost from U.S. Treasury Secretary Steven Mnuchin’s statement on Tuesday that the next U.S. stimulus bill would focus on getting people back to work quickly, with a further delay of the tax filing deadline under consideration.
