Gold Prices Higher As Trump Tests Positive For Covid

Gold reversed earlier losses on Friday, as investors took shelter in the safe-haven asset after U.S. President Donald Trump tested positive for COVID-19. Gains would have been higher had the dollar not remained firm.

Spot gold was up 0.2% at $1,910 per ounce, while U.S. gold futures eased slightly by 0.1% to $1,910.

Gold was on track for its best month in two, after having seen drops over the last four weeks. Gold rates in Mumbai was at Rs 52,670 per 10 grams for 24 karats, while for 22 karats the rate was Rs 48,250 per 10 grams.

Meanwhile, US President Donald Trump said late on Thursday that he and First Lady Melania Trump have tested positive for Covid-19 and have been quarantined after a top aide tested positive for coronavirus.

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