Gold futures climbed on Monday to tally their largest one-day gain of the month so far, as weakness in the dollar and low government bond yields helped to keep the precious metal trading in a range that some market experts see as forming a bullish pattern.

Jim Wyckoff, senior analyst at Kitco.com, said that gold may be set to “break” higher despite gains in equities that have suggested that risk appetite on Wall Street is improving, a scenario that would usually deflate appetite for haven metals like gold.

“Importantly, recent sideways and choppy price action in gold has produced a bullish coiling pattern on the daily bar chart, suggesting the market is storing up energy for a bigger price move coming soon (possibly this week), and odds favor that price move being on the upside,” Wyckoff wrote.

Equity markets have drawn some optimism from hope of a vaccine for COVID-19,

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The global tally of confirmed cases of the coronavirus that causes COVID-19 climbed above 26 million on Thursday, while the U.S. tally rose above 6.1 million, amid growing concerns that President Donald Trump’s administration may attempt to rush out a vaccine ahead of the November presidential election.

Those concerns were fueled by the news that the head of the Centers for Disease Control and Prevention has sent a letter to governors, urging them to prepare to start distributing a COVID-19 vaccine in their states by Nov. 1, just two days before the election.

In the letter dated Aug. 27, CDC head Robert Redfield said states “in the near future” will receive permit applications from drug distributor McKesson Corp.
MCK,
-1.23%
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which has contracted with CDC to distribute vaccines to places including state and local health departments and hospitals, as the Associated Press reported.

“CDC urgently requests your assistance in

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India’s Covid-19 tally raced past 34 lakh with a single-day spike of 76,472 cases, while the number of recoveries surged to 26,48,998, pushing the recovery rate to 76.47 per cent on Saturday, according to the Union Health Ministry.

The total number of Covid-19 cases rose to 34,63,972, while the death toll due to the disease climbed to 62,550 with 1,021 people succumbing to it in a span of 24 hours, the ministry’s data updated at 8 am showed. The Covid-19 case fatality rate has further declined to 1.81 per cent in the country.

There are 7,52,424 active coronavirus cases in the country currently, which account for 21.72 per cent of the total caseload, the data showed. India’s Covid-19 tally had crossed the 20-lakh mark on August 7 and the 30-lakh mark on August 23.

According to the Indian Council of Medical Research (ICMR), a total of 4,04,066,09 samples were tested

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The number of confirmed cases of the coronavirus illness COVID-19 worldwide climbed above 24 million on Thursday, and the U.S. tally topped 5.8 million, as the head of the Centers for Disease Control and Prevention walked back a change in guidelines on testing following a storm of criticism from doctors and scientists.

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