Gold prices on Monday rose off a two-month low as investors wagered that stimulus from central banks will remain in place for the foreseeable future, bolstering the case for bullion, despite a powerful rebound from equities off their lows in the U.S.
“The global economic recovery will still require further aid and gold prices should still be supported over the medium-term,” wrote Edward Moya, senior market analyst at brokerage Oanda, in a daily research note.