- Write by:
-
Tuesday, December 29, 2020 - 11:49:46 AM
-
554 Visit
-
Print
Mining News Pro - Gold prices retreated on Monday following US President Donald Trump’s signing of a long-awaited pandemic aid bill, which pushed bullion to a one-week high earlier.
Spot gold was down 1.6% to $1,877.11 per ounce by 12:25 p.m. EST after rising over $1,900 per ounce during Asian trading hours. US gold futures slipped 0.1% to $1,881.50 on the Comex.
Meanwhile, the dollar index pared losses after falling by 0.2% to a one-week low earlier, which took away bullion’s appeal for other currency holders.
On Sunday, President Trump signed into law a $2.3 trillion pandemic aid and spending package, restoring unemployment benefits to millions of Americans.
“Even without extra stimulus, gold could climb higher … Trump’s signature (on the stimulus bill) was the last major risk point to the bull market,” said Jeffrey Halley, a senior market analyst at OANDA.
Bullion, considered a hedge against inflation, has risen about 24% so far this year amid the unprecedented stimulus unleashed globally.
Short Link:
https://www.miningnews.ir/En/News/609869
The Senate voted Tuesday evening to approve legislation banning the import of enriched uranium from Russia, sending the ...
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
The Biden administration is considering banning imports of enriched Russian uranium using executive authority as ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
Marex Group Plc and a group of the London-based firm’s shareholders raised about $292 million in a US initial public ...
Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday, missing analyst expectations on the ...
The Democratic Republic of Congo’s government notified Apple Inc. of concerns that the company’s supply chain may be ...
No comments have been posted yet ...