Gold Up, Dollar Strengthens Over COVID-19 Worries

Gold Up, Dollar Strengthens Over COVID-19 Worries – Gold was up on Thursday morning in Asia, steadying as U.S. Treasury yields eased. A strengthening dollar capped the yellow metal’s gains, however.

Gold futures inched up 0.08% at $1,734.60 by 1 AM ET (5 AM GMT).

The dollar, which usually moves inversely to gold, also inched up on Thursday. The greenback hit a fresh four-month high against the euro on Thursday, emerging as the safe-haven asset of choice as Europe struggles with its third wave of COVID-19 cases and a delayed vaccine rollout.

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