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Gold futures settle modestly higher on Monday

08 Dec 2020 Evaluate
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.