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Gold Closes Marginally Higher as USD Rises

M. Ali 27 October, 2020 12:08 am Commodities, Market Update

Gold prices rose on Monday for the fifth time in six sessions, supported by increased demand for safe havens, amid a surge in new COVID-19 cases.

The rise in the yellow metal prices came despite the US Dollar (USD) rising across the board.

Gold futures for December delivery closed marginally higher by 50 cents, to settle at $1,905.70 per ounce.

Meanwhile, silver futures for December delivery declined by 25 cents, or 1%, and finished at the level of $24.42 per ounce.

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