Gold rose, paring a weekly drop, as investors weighed a resurgence of cases in the U.S. and major European economies and the prospects for coronavirus vaccines.
New York Mayor Bill de Blasio said the city was ready for the possibility of closing its schools again, while California passed 1 million infections. In Europe, France and the U.K. reported the most infections yet, and Portugal extended restrictions. Even with the prospect of a Covid-19 vaccine, three of the world’s top central bankers, including Federal Reserve Chairman Jerome Powell, cautioned that a vaccine would not end the economic challenges.
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