Gold rose more than 1% on Monday, recovering from its lowest level in more than eight months touched in the previous session, as the dollar weakened while the United States approved a huge stimulus package worth 1.9 trillion dollars.<\/p>\n\n\n\n
Gold rose in the spot market 1% to $1750.24 an ounce, and it had increased 1.1% earlier in the session.<\/p>\n\n\n\n
And gold in US futures increased 1.1% to $1748.50 an ounce.<\/p>\n\n\n\n
Gold prices tumbled 3% on Friday, the biggest monthly drop since November 2016 in February, due to higher US bond yields.<\/p>\n\n\n\n
The dollar fell from its highest level in a week, which is recorded in the previous session, which increases the attractiveness of gold to holders of other currencies.<\/p>\n\n\n\n
Gold is seen as a hedge against inflation, which is the potential outcome of a massive stimulus package while rising bond yields represent a challenge to this situation.<\/p>\n\n\n\n
As for other precious metals, silver rose 0.8% to $26.84 an ounce, while palladium rose 1.2% to $2,344.76, and platinum gained 2.6% to $1,219.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold rose more than 1% on Monday, recovering from its lowest level in more than eight months touched in the previous session, as the dollar weakened while the United States approved a huge stimulus package worth 1.9 trillion dollars. Gold rose in the spot market 1% to $1750.24 an ounce, and it had increased 1.1% …<\/p>\n","protected":false},"author":9,"featured_media":39127,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-42204","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=42204"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42204\/revisions"}],"predecessor-version":[{"id":42205,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42204\/revisions\/42205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/39127"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=42204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=42204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=42204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}