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Gold Closes Above $1,920 an Ounce

M. Ali 5 October, 2020 11:52 pm Commodities, Market Update

Gold prices rose on Monday to their highest level in nearly two weeks, as the US Dollar (USD) declined across the board.

Gains by the precious metal come despite an improved risk sentiment and reduced demand for safe havens; however, the general weakness of the USD supported the yellow metal.

Gold futures for December delivery went up by $12.50, or 0.7%, and finished at $1,920.10 per ounce.

Gold prices open the week positively after closing last week on 2.2% weekly gains.

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