by Naeem Aslam
Gold prices are retracing from highs today after touching their highest level in more than seven years. The gold price hit a peak of $1,779 yesterday as investors started to diversify their bets. Five key factors are likely to push gold prices higher in the coming days.
Lets dive deeper.
Coronavirus: Second Wave
Investors are largely risk-averse due to the threats of coronavirus second wave. New cases have started to surge. It was expected that there would be some spike in coronavirus cases as economies began to re-open. But what wasn’t priced in was that the situation would start to get out of control just as it did in Texas. New cases have soared 4.5%, and hospitals are close to their full capacity.