Gold inches higher on weaker dollar and hopes for US stimulus
Failure to deliver a fiscal package is supportive for bullion, analyst says
23 November 2020 - 07:32
Bengaluru — Gold edged higher on Monday, as a softer dollar and hopes of further US monetary stimulus offset optimism over the quick rollout of a Covid-19 vaccine and bolstered the precious metal’s appeal.
Spot gold rose 0.1% to $1,872.76 per ounce by 5.27am and US gold futures were little changed at $1,871.80. US Treasury secretary Steven Mnuchin on Friday reassured markets that the Fed and Treasury have many tools left to support the economy, after deciding to de-fund several Federal Reserve lending programmes by the end of the year...
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