Gold stable above $ 1,800 due to growing Corona virus fears

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US gold futures hold steady at $ 1809.50, little changed.

  • The dollar index rose 0.2 percent, which increases the cost of the metal to holders of other currencies

Gold prices stabilized today, Monday, to establish themselves above the $ 1,800 level per ounce psychologically important, as the attractiveness of the metal as a safe haven was reinforced by concerns about the growth of Corona virus infections worldwide, but the rise of the dollar curbed the gains.

The spot price of gold was stable at $ 1808.92 an ounce. US gold futures settled at $ 1809.50, little changed.

Michael McCarthy, chief strategist at CMC Markets said: “There are technical indications that the US dollar may appreciate, and perhaps that is why we see gold market dealers lifting the cap now.”

The dollar index rose 0.2 percent, which increases the cost of the metal to holders of other currencies.

Palladium fell 0.7 percent to $ 2008.01 an ounce, platinum fell 0.1 percent to $ 836.91, while silver settled unchanged at $ 19.32.





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