The confirmation of the US president as Joe Biden triggered a breeze of happiness in the market of the precious yellow metal. It led the prices to make a hike on Monday during early trades. Also, the market is hopeful of the stimulus package for COVID-19. Besides, the weakening rate of dollar catapulted gold further.
Gold futures spiked to $1,965.15, jumping 0.69 per cent at 4:28 AM GMT on Monday.
Currently, the markets are anticipating a liberal approach toward the stimulus package relief immediately for battling COVID-19 consequences. Moreover, they are expecting a malleable central bank step that can weaken the dollar.