Gold Edges Higher as Traders Weigh Record Covid-19 Infections
- Cases jump nearly 50% from a month ago but deaths stay stable
- Bullion is heading for its first annual loss in three years
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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 after factoring out a statistical blip in Turkey last year. While the highly-transmissible omicron is spreading rapidly around the world, studies suggest that illness caused by the new strain isn’t as severe as in previous waves.