Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week.
The ICE U.S. Dollar Index was down 0.4% in Monday dealings, providing a boost to dollar-denominated gold prices.
August gold rose $3.50, or 0.2%, to settle at $1,793.50 an ounce. That was the highest settlement since June 30, when prices ended above $1,800 for the first time since September 2011.
Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session.
Prices had seen a "routine downside correction following recent gains" in early Tuesday action, that was "once again seen as a value-buying opportunity in the yellow metal, on strong notions more price appreciation lies ahead," said Jim Wyckoff, senior analyst at Kitco.com, in a market update.
August gold rose $16.40, or 0.9%, to settle at $1,809.90 an ounce. That...
Gold futures headed higher early Monday, supported in part by a weakening U.S. dollar, which was providing a runway for the commodity even as global stocks rallied.
The U.S. dollar was off 0.5%, as measured by the ICE U.S. Dollar Index, a gauge of the buck against a half-dozen currencies. A weaker U.S. dollar can make assets priced in the currency more attractive to buyers using other monetary units.
Against that backdrop, August gold rose $4.30, or 0.2%, at $1,794.50 an ounce, after the...
Gold held near the highest level in more than seven years on demand for haven assets amid the resurgence in coronavirus cases in some parts of the world, while the U.S. dollar slipped.
The pace of new infections in Tokyo, Iran and elsewhere is raising concerns about a fresh wave. Australia™s two most-populous states will close their shared border from Tuesday night as authorities battle to contain a spike in cases. Any vaccine developed to ward off the novel...
Oil futures ended largely steady on Monday as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices.
Brent crude settled at $43.10 a barrel, up 30 cents. U.S. West Texas Intermediate (WTI) crude settled at $40.63 a barrel, down 2 cents.
Production by the Organization of the Petroleum Exporting Countries (OPEC) has fallen to its lowest in decades.
OPEC and other producers including Russia, collectively...