Gold pushed toward the highest level since 2012, lifted by concerns over a second wave of coronavirus infections and growing uncertainty in Hong Kong after China released details of a proposed national security law.
Bullion was supported as cases across the US Sun Belt surged, while Germany’s infection rate rose, and Australia’s second-most populous state, Victoria, tightened controls following a spike in cases. Meanwhile, China confirmed the proposed national security law would allow Beijing to override Hong Kong’s legal system, likely adding to tensions with the US.