Gold Settles Higher as USD Declines

Gold prices closed higher on Monday, rising in the first session of the week as the US Dollar (USD) declined across the board against major currencies.

In addition, political uncertainties and the rising number of COVID-19 cases in many countries are spurring demand for safe havens.

Gold futures for December delivery added around $16, or 0.9%, and settled at the level of $1,882.30 per ounce.

Last week, the yellow metal declined by around 4.9%.