Spot gold futures traded at $1,772 per ounce on Thursday afternoon, up around 0.2% for the session.
by Sam Meredith
CNBC.com
The head of commodity strategy for Saxo Bank says there are several reasons to believe gold will continue to move higher in the second half of 2020, predicting a fresh record high for the precious metal in the coming years.
Spot gold futures traded at $1,772 per ounce on Thursday afternoon, up around 0.2% for the session.
The so-called safe-haven asset briefly touched $1,807 per ounce on Wednesday, notching its highest intraday level since September 2011 when it traded as high as $1,819 per ounce.
The near nine-year peak for gold came after promising results from a Covid-19 vaccine trial boosted hopes for a faster-than-expected economic recovery.