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Gold sees marginal gains Monday

Gold sees marginal gains Monday
Gold Futures for December delivery reached $1,280.9 per ounce at close

Mubasher: Gold recovered from its earlier losses and ended Monday’s trade on marginal gains, due to a decline in global stock markets.

The price of gold futures for December delivery levelled up by 0.05% to $1,280.9 per ounce.

Gold was supported by a decline in American stocks after the record high levels it recorded earlier, as investors are activating the new budget that the congress is looking, which could include tax cuts, as proposed by president Donald Trump.

On Friday, Gold registered its lowest level at close in two weeks, and recorded its highest weekly decline in almost a month.