Gold bars cast in a factory at the Gulidov Krasnoyarsk non-ferrous metal plant in Russia.
Kirill Kukhmar | TASS | Getty Images
Gold prices rose on Monday as Asian trade began, supported by a weaker dollar and hopes of further US stimulus measures to cushion the economic blow from the Covid-19 pandemic.
Spot gold rose 0.1% to $ 1,872.96 an ounce at 0059 GMT.
US gold futures were flat at $ 1,871.70.
The dollar index fell 0.1%.
US Treasury Secretary Steven Mnuchin said on Friday that stimulus negotiations would continue, even as he defended his decision to end several Federal Reserve pandemic loan programs on December 31. .
U.S. healthcare workers and others recommended for the nation’s first inoculations of Covid-19 could start getting vaccinated within a day or two after regulatory consent next month, a senior official said on Sunday. health.
Leaders of the 20 largest economies on Sunday pledged to spare no effort to provide affordable and fair Covid-19 drugs, tests and vaccines to “everyone.”
A festival-led buying frenzy continued in India’s retail gold market last week, although premiums eased slightly from last week and sales volumes were considered to be lower from year to year.
Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.24% to 1,220.17 tonnes on Friday.
Speculators raised their bullish positions on COMEX gold and silver contracts in the week to November 17, the US Commodity Futures Trading Commission (CFTC) said on Friday.
Silver strengthened 0.4% to $ 24.24 an ounce. Platinum was down 0.3% to $ 943.21, while palladium was up 0.1% to $ 2,329.01.