KONTAN.CO.ID - JAKARTA. Gold prices touched a one-week high on Monday as the dollar retreated, while mounting U.S. coronavirus cases fuelled concerns over the pandemic's impact on economic recovery, underpinning hopes of further monetary stimulus. Spot gold rose 0.2% to $1,892.15 per ounce by 0540 GMT, after hitting its highest level since Nov. 9 at $1,898.81 earlier in the session. U.S. gold futures were up 0.3% at $1,892.20. The dollar index hit a one-week trough, making bullion cheaper for holders of other currencies. Coronavirus cases crossed the 11-million mark in the United States on Sunday, while President-elect Joe Biden's top advisers called for urgent action to address the crisis.
Gold hits 1-week high as dollar eases, pandemic worsens
KONTAN.CO.ID - JAKARTA. Gold prices touched a one-week high on Monday as the dollar retreated, while mounting U.S. coronavirus cases fuelled concerns over the pandemic's impact on economic recovery, underpinning hopes of further monetary stimulus. Spot gold rose 0.2% to $1,892.15 per ounce by 0540 GMT, after hitting its highest level since Nov. 9 at $1,898.81 earlier in the session. U.S. gold futures were up 0.3% at $1,892.20. The dollar index hit a one-week trough, making bullion cheaper for holders of other currencies. Coronavirus cases crossed the 11-million mark in the United States on Sunday, while President-elect Joe Biden's top advisers called for urgent action to address the crisis.