Gold was up in Asia on Monday morning, boosted by continuous economic stimuli to combat the COVID-19 pandemics economic woes.
Gold futures were up by 0.23% at $1,739.60 by 10:25 PM ET (3:25 AM GMT) as it reversed its earlier slip. The yellow metal’s previous session saw falls as investors cautiously cash out of their positions in the yellow metal as Asian stocks recorded gains.
“Gold is holding well near highs of the move as both retail and institutional investors have been consistently buying as global balance sheets have ballooned and the outlook for the global economy remains extremely uncertain,” Tai Wong, BMO head of base and precious metals derivatives trading, told CNBC
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