Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as gold gained some ground amid tumble of crude oil prices.
The most active gold contract for June delivery rose 12.4 U.S. dollars, or 0.73 percent, to close at 1,711.2 dollars per ounce.
Earnings reports of many large U.S. companies are due this week and analysts expect the results will not be good. The coronavirus lockdown has slowed much of the economy and many expect the results will be the worst since the 2009 global financial crisis.
The precious metal was given additional support as the Dow Jones Industrial Average fell by 301.24 points, or 1.24 percent, to a 23,941.25 level as of 1750 GMT.
Gold was given further support as a report released on Monday by the Chicago branch of the Federal Reserve showed its national activity index at -4.19 in March. Analysts note this figure was much worse than the previous reading of 0.06.
The U.S. Dollar Index rose by 0.08 point, or 0.08 percent, to a 99.86 level as of 1750 GMT.
Silver for May delivery rose 31.9 cents, or 2.09 percent, to close at 15.614 dollars per ounce. Platinum for July delivery rose 10.7 dollars, or 1.36 percent, to close at 796 dollars per ounce. Enditem
