Gold was adding to last week's losses on Monday as news of China's worsening COVID-19 outbreaks supported the dollar
Gold was adding to last week’s losses on Monday as news of China’s worsening COVID-19 situation supported the dollar while weighing broadly on commodity and equity prices.
Price action What happened China imposed strict new COVID-19 measures in Beijing after the country reported its first death in almost six months. This has weighed on equity markets along with gold and other commodities. The news has sent the price of the most-active gold contract back below $1,750 a share as the latest price runup has started to erode.
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