Gold prices surged on Monday, as the US dollar fell against its peers, but investors turned to the precious metal as a safe haven due to growing concerns over the coronavirus crisis.

Johns Hopkins University reported that the number of Covid-19 infections rose to 85 million cases globally, with a death toll of 1.85 million victims.

The dollar index fell against a basket of major currencies by less than 0.1% to 89.8 points as of 19:16 GMT, after hitting a high of 89.9 points and a low of 89.4 points.

Investors are focusing on governments' efforts in combating Covid-19, especially after a number of vaccination campaigns were launched.

Gold February futures rose 2.7% or $51.5, and closed at $1,946.6 an ounce, the largest daily gain since April 2020, with today’s high at $1,948.7, and the low at $1,906.1.

The US dollar fell against it peers on Monday, in the first session of 2021, after the suffering annual loss by 7% in 2020.

The dollar trimmed some of today's losses due to fears over the coronavirus crisis, which shifted demand to the US currency as a safe haven amid a sell-off wave in US stocks.

Johns Hopkins University reported that the number of Covid-19 infections rose to 85 million cases globally, with a death toll of 1.85 million victims.

US President Donald Trump signed last week a $900 billion aid package to ease the coronavirus impact.

The US House of Representatives voted to increase the stimulus checks for eligible Americans to $2,000 from $600, but the Senate voted against it.

The dollar index fell against a basket of major currencies by less than 0.1% to 89.8 points as of 17:54 GMT, after hitting a high of 89.9 points and a low of 89.4 points.

Oil prices fell on Monday, erasing early gains, while the US dollar fell against its counterparts amid optimism about the Covid-19 vaccines.

Johns Hopkins University reported that the number of Covid-19 infections rose to 85 million cases globally, with a death toll of 1.85 million victims.

The dollar index fell against a basket of major currencies by less than 0.1% to 89.8 points as of 16:54 GMT, after hitting a high of 89.9 points and a low of 89.4 points.

As of 17:07 GMT, WTI crude January futures fell 1.6% to $47.7 a barrel, after hitting a day high of $49.8 and a low of $47.3.

Brent February futures fell 1.1% to $51.2 a barrel, after hitting a high of $53.3 and a low of $50.7.

Copper prices rose on Monday, the first session of 2021, as the US dollar fell against most major currencies amid optimism about the Covid-19 vaccines.

Johns Hopkins University reported that the number of Covid-19 infections rose to 85 million cases globally, with a death toll of 1.85 million victims.

Many countries are relying on vaccines in order to eliminate the coronavirus crisis and return life to normal.

Chief among these promising vaccines are the Pfizer-BoiNTech and Moderna vaccines, in addition to the Russian Sputnik vaccine and AstraZeneca-Oxford vaccine.

The dollar index fell against a basket of major currencies by 0.5% to 89.5 points as of 14:28 GMT, after hitting a high of 89.9 points and a low of 89.4 points.

Copper March futures rose 1.9% to $ 3.58 per pound as of 14:24 GMT, after hitting a high of $3.60 and a low of $3.52.