Gold edges higher as traders weigh record Covid-19 infectionsGold has turned rangebound near $1, 810 an ounce.JOHANNESBURG – Gold edged higher as investors assessed the resilience of the global economic recovery with Covid-19 cases hitting a pandemic record.More than 1.44 million infections worldwide on Monday smashed the previous high. While the highly-transmissible omicron is spreading rapidly around the world, studies suggest the new strain isn’t as virulent as previous variants.Bullion is heading for its first annual loss in three years as central banks dial back pandemic-era stimulus to contain inflation.The S&P 500 notched its 69th record close of 2021 on Monday, suggesting investors remain relatively sanguine about risks from omicron.The UK said it won’t introduce stricter Covid-19 restrictions in England before the end of the year despite a surge in cases, while the US cut the recommended isolation time for Americans with the virus to five days from 10 days.“Gold has turned rangebound near $1, […]
Gold edges higher as traders weigh record Covid-19 infections
