Gold Finishes First Session of 2021 with Solid Gains

Gold prices rose on Monday, opening the year with a positive performance despite an improved risk sentiment among investors.

The yellow metal futures were even able to restore the $1,900 mark with solid gains.

Gold futures for February delivery rose by $51.50, or 2.7%, to settle at the level of $1,946.60 per ounce.

This is the biggest daily gain for gold futures since April and the highest closing level since early November.

Concerns about the rising number of Coronavirus cases and renewed lockdown measures provided support for gold prices in the first session of the New Year.