Gold on track for best month since July 2020 as dollar weakens
The bullion is drawing strength from inflation fears and some inclination of the yields, analyst says
31 May 2021 - 07:24
Bengaluru — Gold rose on Monday and was heading for its best monthly jump since July 2020, boosted by a weaker US dollar and lower bond yields, while growing inflationary pressure lifted demand for the safe-haven metal as a hedge.
Spot gold was up 0.4 at $1,909.81 per ounce by 5.11am, while US gold futures gained 0.4% to $1,913. Bullion has risen nearly 8% so far this month...
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