WASHINGTON (dpa-AFX) - Gold prices rallied on Monday after a massive plunge on Friday driven by fears over the escalating trade war. Spot Gold had declined 1.6 percent and Gold Futures (for April settlement) had erased 1.5 percent on Friday. Gold's gains on the first day of the new week are despite the hardening in bond yields and the additions to Dollar Index on Monday.
Ten-year bond yields in the U.S. hardened 0.34 percent. Bond yields in Germany, France, U.K. and Japan also hardened on Monday.
The six currency Dollar Index is currently at 106.83 implying gains of 0.11 percent. The Index was at 106.71 on Friday.
Both Spot Gold and Gold Futures have gained in Monday's trade.
Gold Futures for April settlement rallied 0.32 percent overnight to trade at $2,910.10, versus the previous close of $2,900.70.
The day's trading range has been between $2,887.97 and $2,916.40 as compared with the 52-week trading that ranged between $2,015.50 and $2,968.50.
With today's rally, weekly losses have decreased to 0.83 percent and gains over the past month stand at 5.87 percent. The price surge over the 3-year horizon is more than 53.2 percent.
Spot Gold added 0.51 percent overnight to trade at $2,897.79 per troy ounce. The day's trading range has been between $2,878.91 and $2,906.42. Spot Gold had ranged between $2,011.57 and $2,943.25 over the past 52 weeks.
At current prices, Gold Futures and Spot Gold have both gained close to 44 percent over the past year.
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