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Gold Prices Mixed In Cautious Trade

Gold Prices Mixed In Cautious Trade

Gold prices traded mixed in cautious trade on Monday as traders booked profits after last week’s rally to a one-month high.

Coronavirus-related worries and the U.S. Federal Reserve’s stimulus measures helped to limit the downside to some extent. Spot gold rose 0.4 percent to $1,690.09 per ounce, while U.S. gold futures were down 0.70 percent at $1,740.90.

The dollar trimmed earlier declines against other major currencies as investors await earnings from U.S. banks and financial firms for direction.

JPMorgan, Citigroup, Bank of America, BlackRock, Goldman Sachs and Wells Fargo will unveil their first-quarter earnings this week.

The British pound rose against the euro and dollar after Prime Minister Boris Johnson was discharged from the hospital where he was being treated for the coronavirus.

There are 70 coronavirus vaccines in development globally, with three candidates already being tested in human trials, the World Health Organization (WHO) said as the global coronavirus death toll increased to 114,245.

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