Gold prices edged higher on Thursday amid concerns of a grueling second wave of the coronavirus pandemic and a difficult winter.

Spot gold edged up 0.2 percent to $1,868.32 per ounce, while U.S. gold futures were 0.3 percent higher at $1,866.65.

The U.S. set a new mark with more than 136,000 new coronavirus infections on Wednesday, according to Johns Hopkins University data.

New York will impose a handful of restrictions on bars, restaurants and gyms to tackle several “hotspot” outbreaks, Gov. Andrew Cuomo said on Wednesday.

France reported 35,879 new coronavirus cases on Wednesday, taking the total to 1.86 million and making it the worst affected country in the European region.

The government has convened for a defense council meeting later today to thrash out details on the additional measures to be taken.

German health minister said that it is “too early to say” whether Germany will extend its four-week partial lockdown.

Italy has surpassed the 1-million infections mark, while almost 43,000 people have died, official statistics by the Health Ministry showed.

Investor risk appetite has been boosted by hopes of a successful coronavirus vaccine, but many uncertainties lie ahead for the speedy rollout.

On the data front, official data showed the U.K. economy grew by a slower than expected pace in September from August, even before the latest restrictions on businesses.

U.S. economic data may attract some attention later today, with traders likely to keep an eye on reports on weekly jobless claims and consumer price inflation.

Trading may also be impacted by remarks by Federal Reserve Chair Jerome Powell, who is due to speak on a policy panel at the European Central Bank Forum on Central Banking virtual event.

The material has been provided by InstaForex Company –

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