Gold and inflation
Gold is traditionally used as a hedge against inflation and prices typically move higher as economic conditions deteriorate.
At the same time, investors still sought safety amid pandemic worries and gold prices on Wednesday soared above the technical level of $1,800 per ounce for the first time since 2011.
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Market focus remains largely attuned to worries over the rising number of "corona virus" cases, as global Covid-19 infections surpassed 12 million on Wednesday, with over half a million related deaths.
The global health crisis has prompted central banks around the world to unload massive emergency stimulus measures in an effort to stimulate an economic recovery.
Gold is traditionally used as a hedge against inflation and prices typically move higher as economic conditions deteriorate.
Analysts say stimulus from central banks and the extra money supply that can create leaves gold well placed to rally in both the short and long term.
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