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Gold futures closed up 1.3% above the $1800 mark on Monday.

新浪財經 ·  {{timeTz}}

Gold futures closed higher on Monday in the early morning of the 24th Beijing time. Supported in part by the weakness of the dollar, gold futures returned above the psychological $1800 mark for the first time in more than two weeks.

"the significant reversal in the dollar and changes in risk appetite have led to a general rally in gold and other metal futures," Zaner metal analysts wrote in a market update on Monday. Some people believe that the continued surge in the new Guandalta mutant is still threatening the global economy and will boost safe-haven investment interest in gold. "

Gold futures for December delivery on the New York Mercantile Exchange rose $22.30, or nearly 1.3%, to close at $1806.30 an ounce, the highest closing price since Aug. 5.

This week, gold traders will keep a close eye on Federal Reserve Chairman Colin Powell's speech at the Fed's annual meeting on Friday to find the central bank's position on slowing the pace of monthly purchases of Treasuries and mortgage-backed securities (MBS).

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