New York Gold Market: Gold tops $2.2 on delta virus fears boost safe-haven buying
New York gold futures ended positive for a third day on Friday (Aug 24) as investors continued to buy gold as a safe haven asset. Amid concerns about the impact of the Covid-19 epidemic Delta species Meanwhile, investors are keeping an eye on the Federal Reserve’s (Fed) annual meeting in Jackson Hole, Wyoming on Aug. 26-28 for signs of the Fed’s monetary policy direction.
The COMEX (Commodity Exchange) gold contract will be delivered in December. It was up $2.2, or 0.12%, at $1,808.5/ounce.
Silver metal contract delivered in September It was up 23.8 cents, or 1.01%, at $23.894 an ounce.
Platinum contract delivered in Oct. It was down $4, or 0.39%, to close at $1,010.1/ounce.
Palladium contract delivered in September It was up $57.40, or 2.4%, at $2,442.50 an ounce.
The heavy spread of the COVID-19 virus Delta species continue to drive investors to gold as a safe haven asset. Recently, New Zealand found infected with the Covid-19 virus. 41 new Delta species reported yesterday. This is the highest number of daily infections since April. 2020
The New Zealand government extended the nationwide lockdown until 11:59 p.m. on Friday, Aug. 27, while the epicenter of the outbreak, Auckland, will remain under lockdown until the end of the day. 31 Aug.
In the United States, Dr. Ashish Jaa, dean of the School of Public Health at Brown University in the United States, warned that Number of deaths from COVID-19 The US may soar again to more than 1,000 a day as the outbreak of the delta virus has dramatically increased the number of U.S. infections and deaths.
Investors will keep an eye on the Federal Reserve’s (Fed) annual meeting in Jackson Hole, Wyoming, Aug. 26-28, with the theme of this year’s meeting being “Monetary Policy Framework Review.” The Fed is expected to signal more clearly about the direction of interest rates. as well as the trend of reducing the amount of the bond purchase program following the quantitative easing (QE) measures at the meeting.
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