Meanwhile, the dollar index pared loss after falling by 0.2% to a one-week low earlier, which took away bullion’s appeal for other currency holders.
On Sunday, President Trump signed into law a $2.3 trillion pandemic aid and spending package, restoring unemployment benefits to millions of Americans.
“Even without extra stimulus, gold could climb higher … Trump’s signature (on the stimulus bill) was the last major risk point to the bull market,” said Jeffrey Halley, a senior market analyst at OANDA.
Bullion, considered a hedge against inflation, has risen about 24% so far this year amid the unprecedented stimulus unleashed globally.
(With files from Reuters)
