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Gold Closes Higher as USD Declines

M. Ali 7 December, 2020 11:15 pm Commodities, Market Update

Gold prices rose on Monday, opening the week with a positive performance as the US Dollar (USD) declined near its lowest level since 2018.

The rise of the yellow metal also comes amid renewed hopes for a new government stimulus package in the United States.

Gold futures for February delivery gained $26, or 1.4%, and settled at $1,866 per ounce.

Last week, the precious metal futures added 2.9%, after three consecutive weeks of decline.

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