Gold prices are correcting after closing at highs since November

Gold ended Monday's trading at its highest level since early November - its futures rose nearly 3%. The positive dynamics is supported by the weakening of the dollar, which fell to its lowest level in 2.5 years. The precious metal is showing a correction this morning: at the time of writing, February futures were down 0.11% to $1944.55. Last year turned out to be the best year for gold in the last 10 years. According to Valaurum senior strategist Ed Moya, formerly head of the U.S. Mint, it will continue to appreciate in the near future due to an increase in new diseases coronavirus and deaths. Because of the environment, United States authorities are likely to significantly step up stimulus measures, using both monetary and fiscal fiscal tools, he believes. This will contribute to the dollar's depreciation, which will be favorable for the growth of gold prices.