Gold futures rise about 2%

December gold futures climbed 1.8% to $4,081.1 an ounce.

Gold futures rose after the University of Michigan’s US consumer sentiment index fell nearly 6% in November, marking its lowest level in almost three years.

On Monday, December gold futures climbed 1.8%, or $71.4, to $4,081.1 an ounce.

Spot gold also rose 1.8% to $4,073.51 an ounce, while silver surged 2.45% to $49.5 an ounce.

The dollar index, which measures the US currency against a basket of six major currencies, remained steady at 99.63 as of 9:24 a.m. Mecca time.

December silver futures advanced 2.85% to $49.51 an ounce. Platinum spot prices increased 1.75% to $1,573.26 an ounce, and palladium added 1.2% to $1,399.53 an ounce.

Gold bar and coin purchases, often seen as a gauge of safe-haven demand, rose 24.55% to 352.12 tons from January to September, representing 51.6% of China’s total gold consumption, according to Reuters.