Gold holds firm above $1,800

Gold prices rose on Monday, holding ground above the key $1,800/oz level, as a weaker dollar and worries over surging COVID-19 cases around the globe kept the safe-haven metal underpinned.

Spot gold was up 0.3% at $1,803.80 per ounce by 0303 GMT. U.S. gold futures rose 0.4% to $1,809.10.

“The COVID-19 narrative is not going away and (we) don’t think the U.S. Federal Reserve is going to change course on the rates anytime soon, which should support gold prices,” said Stephen Innes, chief market strategist at financial services firm AxiCorp.

Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.

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