Sun, 26 Sep 2021

Gold rises on COVID-19 Delta variant concerns

Xinhua
14 Sep 2021, 04:44 GMT+10

CHICAGO, Sept. 13 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as investors are concerned about the spread of COVID-19.

The most active gold contract for December delivery rose 2.3 U.S. dollars, or 0.13 percent, to close at 1,794.4 dollars per ounce.

Investors are concerned that not enough progress has been made in stopping the spread of COVID-19 and in vaccinating the U.S. population and the world's population against COVID-19.

Traders may also position in preparation for the August U.S. Consumer Price Index (CPI) reading due on Tuesday, and ahead of the Federal Reserve policy meeting next week.

A stronger dollar capped the growth of gold.

Silver for December delivery fell 10.4 cents, or 0.44 percent, to close at 23.796 dollars per ounce. Platinum for October delivery rose one dollar, or 0.1 percent, to close at 957.5 dollars per ounce.

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