WASHINGTON (dpa-AFX) - Gold prices jumped nearly 2 percent on Monday to hover near their highest level in almost two months, with a weaker dollar and renewed declines in real yields boosting the precious metal's allure.
Spot gold rose 1.9 percent to $1,930.14 per ounce, while U.S. gold futures were up 2.1 percent at $1,934.25.
The decline in real rates is being driven by a rise in inflation expectations as vaccine rollouts begin.
The U.K.'s National Health Service (NHS) today began rolling out the Oxford University vaccine developed by AstraZeneca as protection against Covid-19, with an 82-year-old Oxford-born dialysis patient becoming the first to receive the new jab.
Six hospitals in England will administer the first of around 530,000 doses of the vaccine.
An agreement on the long-awaited U.S. coronavirus relief bill has created downward pressure on the dollar, while boosting the appeal of commodities.
Investors are on the lookout for Tuesday's runoff elections in the U.S. state of Georgia that will decide the control of the Senate.
Minutes of the Federal Reserve's December meeting will be released on Wednesday, with investors looking for fresh guidance on its asset purchases.
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