Gold futures settled modestly higher on Monday, with the ambiguity in economic recovery as the COVID restrictions tightens with the daily surge in infections . The yellow metal also got lifted as US fiscal stimulus hopes supported the inflation hedge appeal of the bullion. The dollar eased to a 2-1/2-year low, making it cheaper for other currency holders. Gold for the most active contract has gained about 22% so far this year.
Gold futures for February delivery rose by 1.4% or $26.00 to settle at $ 1866.0o an ounce on the Comex division of the New York Mercantile. Spot gold 1.3% higher at $1,861.26 per ounce.