Gold up on geopolitical tensions

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as tensions between the United States and China increased.

The most active gold contract for August delivery rose 21.2 U.S. dollars, or 1.15 percent, to close at 1,865.1 dollars per ounce.

The precious metal reached its highest level since September 2011 on Wednesday.

A weaker U.S. dollar also supported gold.

Investors are also digesting the news that the United States on Tuesday recorded more than 1,000 daily deaths from the coronavirus.

Silver for September delivery rose 1.587 dollars, or 7.36 percent, to close at 23.144 dollars per ounce. Platinum for October delivery rose 38.5 dollars, or 4.19 percent, to close at 957.4 dollars per ounce. Enditem