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Gold futures settled higher on Monday, gaining for a second straight session, despite starting off on a somewhat weak note.

Concerns about a spike in coronavirus cases in Asia and fresh travel-related restrictions in Australia, Spain, Germany and Portugal due to the spread of the Delta variant of Covid-19 in parts of Europe pushed up demand for the safe-haven asset.

Gold futures for August ended up by $2.90 or about 0.2% at $1,780.70 an ounce.

Silver futures for July ended up by $0.136 at $26.223 an ounce. Copper futures for September, the most active contract, settled at $4.2785 per pound, down $0.0110 from the previous close.

The dollar’s retreat from the day’s high supported gold prices. The dollar index, which rose to 92.02 in the European session, was last seen hoving around 91.85, its previous closing level.


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