Illustration photo of Gold Price H4 Chart from economies.com
Investors turned to gold as the U.S. dollar fell due to rising concerns over COVID-19.
According to John Hopkins University, the coronavirus recorded 85 million infected cases globally, with 1.85 million casualties.
Investors are zeroing in on governments’ efforts in fighting the coronavirus, especially after the launch of vaccination campaigns.
Economies.com pointed out that gold February futures recorded the largest daily gains since April 2020 by rising up to $51.5, or 2.7%, and closed at $1946.6 per ounce. The metal recorded a high at $1948.7 and low at $1906.1 per ounce.
FOLLOWME XAU/USD Overall Sentiment (As of 10:10 a.m., Jan 5, 2021)
Short - 54.42%
Long - 45.58%
Source: economies.com
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