The price of gold on Monday reached its highest level in more than a month, in light of heightened fears of a delay in the economic recovery following an increase in cases of coronavirus infection.
According to Al-Ittihad, gold rose in immediate transactions 0.5 percent to 1751.63 dollars an ounce by 0650 GMT, after recording the highest level since May 18, and increased Gold in futures trading in the United States 0.7 percent to 1764.50 dollars.
"The risk aversion in general supports the market," said Michael McCarthy of CMC Markets, adding that "we see pressure on currencies exposed to growth and stock markets." In general, there are concerns about escalating injury rates, the market is concerned about growth expectations and this of course supports gold.
As for the other precious metals, silver increased 1.5 percent to $ 17.86 an ounce, recording the highest level in more than a week.
Palladium fell 0.1 percent to $ 1908.08, while platinum jumped 0.8 percent to $ 812.27.
