Gold prices stabilized on Monday, with the rise of the US dollar, and the follow-up to the latest developments of COVID-19 and economy.

 

Attention is turning to the US inflation report for August, due on Sept. 14, with expectations of a 0.4% increase on a monthly basis.

 

Gold futures contracts for December delivery settled at $1,791.80 per ounce at 09:35am Makkah time. Spot price for the yellow metal gained 0.1% to reach $1,790.06 per ounce.

 

Elsewhere, silver futures for December delivery fell 0.7% to reach $23.73 an ounce, spot price for platinum delivery declined 0.1% to reach $959.61, while palladium decreased 2.2% to reach $2,122 per ounce.

 

The dollar index - which measures the performance of the US currency against a basket of six currencies – rose 0.2% to hit 92.758 points.

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