June 29 (Reuters) - Gold prices edged higher on Monday as a
sustained rise in novel coronavirus cases around the world
intensified fears about a delay in global economic recovery and
prompted investors to seek the safe-haven metal.
FUNDAMENTALS
* Spot gold XAU= rose 0.1% to $1,772.61 per ounce by 0015
GMT. Prices were $6.45 shy of a near eight-year high of
$1,779.06, hit last week.
* U.S. gold futures GCv1 gained 0.3% to $1,785.90.
* California on Sunday ordered some bars to close, the first
major rollback of efforts to reopen the economy in the most
populous U.S. state, as cases nationwide soar to record levels
day after day. * The death toll from COVID-19 around the world reached half
a million people on Sunday, according to a Reuters tally.
* The outlook for a global economic recovery over the past
month has worsened or at best stayed about the same, according
to a firm majority of economists in Reuters polls. * Retail sales in Japan tumbled at a double-digit pace for
the second straight month in May as the COVID-19 pandemic and
lockdown measures delivered a heavy blow to consumer confidence.
* Gold is used as a safe investment during times of
political and financial uncertainty.
* Indicative of sentiment, SPDR Gold Trust GLD , said its
holdings rose 0.3% to 1,178.90 tonnes on Friday. GOL/ETF
* Speculators increased their bullish positions in COMEX
gold and silver contracts in the week to June 23. CFTC/
* On the physical side, gold discounts widened in China and
India last week as a surge in infections restricted buying.
GOL/AS
* Palladium XPD= gained 1.3% to $1,884.88 per ounce, while
platinum XPT= rose 0.6% to $796.07 and silver XAG= climbed
0.6% at $17.85.
DATA/EVENTS (GMT)
0900 EU Consumer Confid. Final
1200 Germany CPI Prelim YY
1200 Germany HICP Premim YY