Gold prices steadied on Monday to hold firm above the psychological level of $1,800 per ounce, as worries over surging coronavirus cases around the world underpinned its safe-haven appeal, although a stronger dollar capped gains.
Spot gold was steady at $1,808.92 per ounce by 0721 GMT. U.S. gold futures were little changed at $1,809.50.
“There are technical indications that the U.S. dollar could strengthen and that might be why we are seeing traders in the gold market taking the lid off the price at the moment,” said Michael McCarthy, chief strategist at CMC Markets.
Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.