Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as the COVID-19 public health crisis worsened.
The most active gold contract for August delivery rose 7.4 U.S. dollars, or 0.41 percent, to close at 1,817.4 dollars per ounce.
Investors are moving to gold as a safe haven as they remain concerned over the possibility of more stimulus-induced inflation due to the worsening COVID-19 crisis. In recent days, cases in India and the United States have worsened, with U.S. state of Florida becoming the new global epicenter of the outbreak, along with a sharp rise in cases in California and Texas.
Geopolitical tension between the United States and China also supported gold.
The U.S. Dollar Index fell slightly on Monday, lending additional support to gold.
Gold gained for six weeks in a row by Friday.
Silver for September delivery rose 42.8 cents, or 2.17 percent, to close at 20.192 dollars per ounce. Platinum for October delivery rose 8.3 dollars, or 0.98 percent, to close at 857.9 dollars per ounce. Enditem
