With the prevailing situation of record losses, it would be gold’s worst run since March 2020.
Natural gas contract due for delivery on March 21 traded at $3.050 per one million British Thermal Units.
Brent crude surged by 1.8%, at $63.52 a barrel, after rallying to a session high of $63.76, the highest price sighted since Jan. 22, 2020
Gold prices drifted slightly lower at the first trading session of the week after U.S. Treasury yields soared to their highest in nearly 11 months.
Brent crude futures closed at $62.43 after rising to an intra-daily session high of $62.83, the highest price level since Jan. 22, 2020
Brent crude futures dropped 0.6% at $60.80 a barrel having dropped 0.50% on Thursday.
Gold traders are going long after Biden shrugged off warnings that the economy may overheat as a result of the $1.9 trillion stimulus deal
Brent oil futures lost about 0.2% to trade around $61 a barrel
Both major oil benchmarks are at their highest since January 2020.
At the time of writing this report, Brent crude traded at $59.95 a barrel thereby reaching a 1-year high.