Gold gains as rising virus cases, easing dollar boost safe-haven appeal
Gold gained on Monday, as surging COVID-19 cases boosted the metal's safe-haven appeal, aided by a weaker dollar ahead of the U.S. Federal Reserve's meeting this week, while auto-catalyst palladium held below a record peak scaled last week. Spot gold was up 0.1% at $1,778.22 per ounce by 0707 GMT. U.S. gold futures fell 0.1% to $1,775.70 per ounce. "The COVID-19 situation in India and Japan is deteriorating. So that is boiling demand for safety, resulting in higher gold prices," said Margaret Yang, a strategist at DailyFX, adding that an easing dollar is further supporting prices. Cases i...