Gold futures traded to a new yearly high in London last night, when for a brief moment the most active August contract reached $1796.10. This is the highest value gold has attained since 2012.

Gold futures had solid gains today closing above the highest close in 2020. On April 14 of this year gold hit an apex as it reached the highest intraday high for the year when it traded to $1788, and backed off on the close.

Gold pricing surged to higher ground today, as renewed concerns about a second wave of the pandemic triggers concerns leading to safe haven demand.