FILE PHOTO: A marked ingot of 99.99 percent pure gold is placed in a cart at a plant owned by Krastsvetmet, one of the world's biggest manufacturers of non-ferrous metals, in Krasnoyarsk, Russia April 9, 2019. Picture taken April 9, 2019. REUTERS/Ilya Naymushin/File Photo
BENGALURU: Gold rose 1% on Monday to its highest in more than seven years as dismal U.S. data underscored how badly the COVID-19 pandemic has damaged the world's top economy, while palladium soared over 9% on better-than-expected demand outlook.
Spot gold was up 1% at $1,759.13 per ounce by 0708 GMT, after rising to its highest since Oct. 12,2012 at $1,764.46 earlier. U.S. gold futures gained 0.9% to $1,772.70.
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