Gold leaps above $1,800 for the first time since 2011

Gold last traded at $1,806 an ounce. Silver at $18.99 an ounce.

NEWS SUMMARY: Precious metal prices held near 9-year highs Thursday on rising economic uncertainty. U.S. stocks fell amid renewed concerns over the coronavirus and its impact on the economy.

BUSINESS INSIDER--"Gold spot prices broke above $1,800 per ounce on Tuesday afternoon for the first time since 2011, bolstered by record inflows and widespread risk-off attitudes. The precious metal continued trading above that level Wednesday morning. Safe havens are enjoying their time in the sun as the stock market's run-up slows. Spiking coronavirus case counts have fueled new concerns of a second plunge for risk asset prices. Federal Reserve officials warn the virus' resurgence could freeze an economic recovery, and the Organization for Economic Co-operation and Development recently referred to the pandemic's labor market damage as 'far worse' than during the financial crisis. The wave of gloomy news has pushed investors back to gold at a blinding pace. Year-to-date inflows for exchange-traded funds tracking the metal reached 655.6 tons on Wednesday, Bloomberg reported, surpassing the full-year increase seen in 2009....Some analysts think gold has plenty of room to run. Goldman Sachs raised its 12-month price target for the popular hedge on June 19 to $2,000 per ounce, expecting gold to reach a record high amid lasting virus damage. With interest rates set to remain close to zero for years to come and the US dollar facing significant pressure, the metal's rally shows no signs of stopping, the bank's analysts said."