Gold Prices See Best Month In 8 Years

Gold prices edged higher on Friday as the worsening covid-19 pandemic continues to stifle the global economy. Spot gold rose 11% for the month of July, heading for its biggest monthly gain in over eight years, driven by a declining US dollar and real yields. By 11:15 a.m. EDT, the spot price was up 1.0% to $1,974.40 per ounce, near an all-time high. Concerns have also been raised about the US dollar’s status as the world’s reserve currency of choice as it gets closer to its biggest monthly drop in almost a decade. The…