Gold Floats Just Below $2,000 – 27 July, 2020

Dreary economic outlook and a weak dollar helped boost gold to almost $2,000 per ounce, rising a record 1.5%. U.S. gold futures were up 1.7% to $ 1,963.30 per ounce, while spot gold was up 1.4% to $1,969.76 per ounce. Economic recovery has been road-blocked due to the continues spread of COVID-19. A weaker dollar as well as ongoing tensions between the U.S. and China have left investors fleeing to the precious metal. With the dollar index at a nearly two year low, investors await news on the next stimulus packaged aimed to help citizens affected by the virus.