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Gold Climbs Above $1,800 for the First Time Since 2011

  • WHO warns that the worst of the pandemic is still to come
  • Traders are betting on further responses from central banks
Gold ingots.
Photographer: Andrey Rudakov/Bloomberg
Updated on

Gold futures rose above $1,800 an ounce for the first time in more than eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven.

Bullion for August delivery rose as much as 1.3% to $1,804 an ounce Tuesday on the Comex in New York, the highest for a most-active contract since November 2011. The metal posted its best quarter in four years.