Gold Futures Logs First Gains in Seven Sessions

Gold prices rose on Friday, limiting their monthly losses during January, amid a fluctuating performance by the U.S. Dollar (USD) and concerns about the rollout of Coronavirus vaccines.

This marked the first gains for the yellow metal most active contracts in seven sessions, after six consecutive declines.

Gold futures for April delivery gained $9.10, or 0.5%, and closed at the level of $1,850.30 per ounce.

For the week, gold futures registered a loss of about 0.5%.

On the monthly level, gold futures lost 2.4% in January 2021.

However, it remains expected that due to the depreciation of the U.S. Dollar (USD), because of monetary easing policies coupled with increased government stimulus spending, that gold prices will be seeing some appreciation soon.