On Monday, Gold futures on the COMEX division of the New York Mercantile Exchange saw a slight increase in value.
The most active gold contract for April delivery went up by 3.10 U.S. dollars, or 0.14 percent, to settle at 2,188.60 dollars per ounce.
Despite the absence of traditional tailwinds, the current rally in gold’s price is somewhat puzzling. Analysts in the market believe that gold has managed to attract interested buyers.
The U.S. February consumer price index is set to be released on Tuesday, which could impact gold prices further.
In addition to gold, silver for May delivery also experienced an increase of 16.60 cents, or 0.68 percent, closing at 24.715 dollars per ounce. Platinum for April delivery likewise saw a rise of 25.70 dollars, or 2.81 percent, closing at 940.50 dollars per ounce.
