Picture used for illustration. File
Gold prices firmed above the key $1,800 an ounce level on Monday, supported by uncertainty over the impact of surging coronavirus cases and a subdued dollar.
Spot gold was up 0.6% to $1,808.25 per ounce at 0933 GMT. US gold futures were up 0.6% at $1,813.30.
"The uncertainty related to the continued increase in the virus count is adding some underlying support to the market .... There's absolutely no reason not to hold on to long positions for at least as long as we stay above the $1,765 area," said Saxo Bank analyst Ole Hansen.
The World Health Organization reported a record increase in global coronavirus cases on Sunday, with the total rising by 230,370 in 24 hours.
The biggest increases were from the United States, Brazil, India and South Africa. However, the emergence of a viable vaccine to treat the virus could prompt profit-taking in gold, Hansen added.
The dollar index was muted, after a third consecutive weekly decline. Safe-haven gold's rise also came despite gains in European shares.
"Gold price is consolidating above $1,800 with bullion holding onto this significant threshold despite stocks in green. This confirms investors' huge appetite for the yellow metal in this uncertain phase on markets," ActivTrades chief analyst Carlo Alberto De Casa said in a note.
Adding to the global uncertainties driving inflows into safe haven assets, US President Donald Trump said on Friday he was not currently thinking about negotiating a "Phase 2" trade deal with China.
Indicative of investor sentiment, speculators increased their bullish positions in COMEX gold and silver contracts in the week to July 7, the U.S. Commodity Futures Trading Commission said on Friday.
Elsewhere, silver climbed 2.2% to $19.08 per ounce, having hit a high since Sept. 5 at $19.16. Palladium gained 0.7% to $1,983.97 per ounce; platinum was up 2.6% at $835.69.
Spot gold was up 0.1% at $1,777.30 per ounce by 0949 GMT. U.S. gold futures fell 0.3% to $1,784.30 per ounce.
Spot gold was up 0.2% at $1,773.41 per ounce by 0506 GMT. Prices were $5.65 shy of a near eight-year high of $1,779.06, hit last week. U.S. gold futures rose 0.5% to $1,788.40 per ounce.
Spot gold was steady at $1,772.14 per ounce by 0703 GMT, just $6.92 shy of a near eight-year high of $1,779.06 hit last week. U.S. gold futures rose 0.3% to $1,787.30. Bullion, with quarterly gains of more than 12%.
Dubai Land Department, in cooperation with Property Finder, launched the fourth edition of Mo’asher, Dubai’s official sales price index. The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012,
The Standing Committee of Economic Development (SCED) which is affiliating to the Executive Council of Ajman remotely held its 7th meeting for 2020 chaired by Abdullah Al Muwaiji, Chairman of the Committee,
Following the huge success of its virtual educational initiative, ‘Badiri Knowledge Exchange’, Badiri Education and Development Academy, the education and capacity building arm of NAMA Women Advancement Establishment (NAMA),