Rising virus cases and pullback in US yields lift demand for gold
State of pandemic in Japan and India is driving up safe-haven assets, analyst says
03 May 2021 - 07:14
Bengaluru — Gold prices rose on Monday as a retreat in US Treasury yields and worries over surging Covid-19 cases in some countries boosted the metal’s appeal, while palladium held firm after surpassing the $3,000-per-ounce level in the previous session.
Spot gold was up 0.3% at $1,773.90 per ounce by 6.18am. Trading in Asian hours was low due to public holidays in China and Japan. US gold futures rose 0.4% to $1,773.90 per ounce. ..
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