US, WASHINGTON (ORDO NEWS) — Gold prices rose in Asia Monday morning due to the weakening US dollar, gaining a little respite from last week’s dips.
Gold futures briefly exceeded the $ 1,500 mark, opening at $ 1,506.15 before settling at $ 1,490.45 at 01:22 p.m. GMT.
The Yellow Metal has again become a safe haven, despite the fact that last Friday the US dollar rose to record highs. The dollar has challenged the status of gold , which usually moves in the opposite direction to the dollar.
It has received some help from an early fall in Asian stock markets, with investors still worried about the effects of the coronavirus epidemic, which continues to spread.
“This is definitely a relief for the markets,” said Simon Harvey, foreign exchange market analyst at Monex Europe, in an interview with Bloomberg. “Nothing is taken for granted in this market, should be taken every day as it arrives.”
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