Daily Archives: 08/31/2020

Gold price set for first monthly decline since March

Gold prices edged higher on Monday as the US dollar weakened, although record-high equities capped bullion’s gains and set it for its first monthly decline since March.

Spot gold advanced 0.4% to $1,971.90 per ounce by 12:10 p.m. EDT after touching a two-week high of $1,976.05 earlier in the session. US gold futures inched up 0.2% to $1,980.20 per ounce on the Comex in New York.

For the month of August, the precious metal was down 0.2% despite rallying to an all-time high of $2,072.90 during the earlier part of the period.