Gold prices rose at the close of trading on Monday, as concerns over Chinese company Evergrande’s debt default continued to reverberate across global markets.

Investors opted to sell risky assets in favor of safe-haven assets today, causing the Dow Jones Industrial Average to drop more than 800 points during the session, tracking losses in global markets.

The Federal Reserve begins its monetary policy meeting tomorrow, Tuesday, which will continue through Wednesday, and investors are awaiting comments from Fed officials regarding its plan to begin asset purchases related to the “coronavirus” pandemic.

At the close, December gold futures rose by 0.71% or $12.40 to settle at $1,763.80 per ounce.

The dollar index, which tracks the performance of the U.S. currency against six major currencies, rose marginally by 0.08% to 93.266 points at 9:08 p.m. Makkah time.