Gold Hits 9 Year High, Remains Stable – 8 July, 2020

Gold has reached new highs for the year as COVID-19 cases continue to spread around the world. In its highest levels since September 2011, spot gold  reached as high as $1,819.80 per ounce before settling at at a steady $1,808.44 per ounce. U.S. gold features were unchanged at $1,819.80. On Wednesday, the U.S. Federal Reserve brought attention to the possibility of a slow economic recovery as infection numbers grow across the country and states reinforce closures. Coronavirus cases around the world have surpassed 12 million, killing over half a million.