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 climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend.
U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.3 million. Mexico overtook France with the fifth-deadliest outbreak.
Spot gold +0.2% to $1,776.01/oz at 8:10am in Singapore. Last week,...
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...