Gold Gains More Than $80 An Ounce Largest Daily Dollar Climbs On Record

(March 23, 2020 - Myra P. Saefong)

Gold futures rallied on Monday, sending prices up by more than $80 an ounce, or 5.6%. That marked the biggest daily dollar climb for the most-active contact, based on records dating back to 1984, and largest one-day percentage rise since March 2009, according to Dow Jones Market Data. Weakness in the dollar, which dropped in the wake of the Federal Reserve’s decision to purchase an unlimited amount of Treasuries and securities to support the financial market, provided a boost for the precious metal.