Gold futures in the United States added 0.6% to $ 1,861.80.
In this regard, the independent analyst Ross Norman indicated that “it is quite clear that the money markets are evaluating a very considerable fiscal stimulus spending by the Democrats, some rebound in inflation.”
He added “so gold was initially trading lower thanks to those factors – the dollar and Treasury yields (up) – now trading a little higher in anticipation of some future inflation.”
Gold represents for many investors a hedge against inflation. However, higher bond yields have disputed that recently, as they increase the opportunity cost of owning bullion, which does not earn interest.
Relative to other precious metals, palladium climbed 0.4% to settle at $ 2,382.15; platinum rose 3% to trade at $ 1,061.92 and silver gained 2.4% to be offered in the market at $ 25.53 an ounce.
With information from Reuters and other agencies