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The yellow metal saw an impressive rally this week, fuelled by the sell-off in the US dollar, which has seen price trading back up towards all-time highs.
The dollar has come under significant selling pressure this week as concerns over a strong upward trend in new infections and daily deaths have reignited fears of a second wave of the virus.
The greenback came under heavy selling pressure following a public address from President Trump this week. He urged citizens to wear masks, warning that the virus outbreak might “get worse before it gets better”.
Trump’s warning comes amidst building investor uncertainty relating to the dollar as the death toll there soars back above the 1000 per day mark.
Tensions between the US and China this week have also driven a strong safe-haven inflow into gold following news that Trump has ordered the closure of the Chinese consulate in Houston. China has warned that it could retaliate by closing the US embassy in Chengdu while Trump has said it is ...
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