- Write by:
-
Friday, January 8, 2021 - 5:32:25 PM
-
479 Visit
-
Print
Mining News Pro - Gold headed for a sixth weekly advance, the longest run since August, as investors focused on the prospect for more stimulus. They will also be watching for Friday’s jobs report, which is forecast to show a sharp slowdown in hiring.
The two Democratic wins in Georgia’s Senate runoffs this week give President-elect Joe Biden full control of Congress, potentially paving the way for him to push his legislative agenda forward. While campaigning in the state, he vowed that $2,000 stimulus checks would be sent out “immediately” if his party won.
Federal Reserve Bank of Cleveland president Loretta Mester said she didn’t believe ramped up fiscal stimulus under Biden would pave the way for a pull-back on monetary policy this year. Other central bank officials such as Chicago President Charles Evans and Atlanta’s Raphael Bostic have said they might support reducing the pace of the Fed’s ongoing asset purchases before the end of 2021 if the economy bounces back strongly enough.
Meanwhile, House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer demanded that President Donald Trump’s cabinet immediately remove him from office and accused him of inciting the mob that stormed the US Capitol. Trump, in a video message on Thursday night, condemned the riot and said he would prepare for the administration of Biden.
Bullion’s had a mixed start to the year after posting the biggest annual advance in a decade. While there’s still plenty of tailwinds -- a raging pandemic, uncertainty over the economic recovery, rising inflation expectations, to name a few -- gains in benchmark Treasury yields this week weighed on the non-interest bearing asset.
Spot gold rose 0.1% to $1,916.01 an ounce at 8:14 a.m. in Singapore, and is up 0.9% this week. Silver, platinum, and palladium were all little changed. The Bloomberg Dollar Spot Index steadied after surging 0.6% on Thursday.
Short Link:
https://www.miningnews.ir/En/News/609989
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
Iron ore futures prices drifted higher on Thursday as the latest soft data from top consumer China triggered renewed ...
Newmont confirmed on Wednesday that two members of its workforce died this week at the Cerro Negro mine located in the ...
Rio Tinto said on Wednesday it is teaming up with a global venture studio and start-up investor to back the development ...
Chinese investors are snapping up stocks tied to high-flying metals from copper to gold, aiding an onshore market facing ...
Outflows from global physically backed gold exchange traded funds (ETFs) continued for a 10th month in March, but at a ...
i-80 Gold fell by over 11% at market open Tuesday following its announcement of a C$100 million ($74m) public offering ...
No comments have been posted yet ...