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Gold Up on Inflation Worries

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as investors became more concerned about inflation.

The most active gold contract for April delivery rose 31 U.S. dollars, or 1.74 percent, to close at 1,808.4 dollars per ounce.

It becomes clear that the U.S. Congress is likely to vote to approve the 1.9-trillion-dollar aid package in response to the economic impacts of the COVID-19 pandemic, triggering inflation worries.

Gold found additional support as the U.S. Dollar Index fell.

The Conference Board Leading Economic Index for the United States increased 0.5 percent in January to 110.3, following a 0.4 percent increase in December and a 0.9 percent increase in November.

Silver for March delivery rose 83.1 cents, or 3.05 percent, to close at 28.085 dollars per ounce. Platinum for April delivery rose 10.8 dollars, or 0.84 percent, to close at 1,282.3 dollars per ounce.

(www.chinaview.cn 2021-02-25)