Gold price hovers near nine-year high as virus fears drive safe-haven demand
"What`s really driving gold market is stimulus and we are going to get more of it. Its the eye candy that`s driving sentiment right now," said Stephen Innes, chief market strategist at financial services firm AxiCorp. European Union leaders appeared to near an agreement on Monday on a 750-billion-euro stimulus plan for regional economies hit by the pandemic.
Gold rose on Tuesday, hovering near a nine-year peak hit in the last session, as worries over a spike in COVID-19 cases and expectations for inflation, Photo: Reuters