Gold futures headed lower on Thursday as commodity investors assessed the landscape for the global economy and markets amid rising U.S. coronavirus cases, while the European Central Bank, as expected, kept both its key rate and asset-buying program unchanged.
Bullion has been held in a range around $1,800 as rising cases of COVID-19 in many American states undermine the economic recovery, while U.S.- China tensions are also rising.
“The surge in COVID-19 cases in the U.S. has made the situation a little more arduous because businesses are likely to lay off more workers,” said Naeem Aslam, chief market analyst at AvaTrade in a market update
