Gold rebounds as passage of US stimulus bill boosts bullion’s appeal as inflation hedge
Improved sentiment from passing of the $1.9-trillion package and a dip in dollar index provide lift, analyst says
Bengaluru — Gold prices bounced back on Monday from a nine-month low hit in the previous session as the dollar softened, while passage of a long-awaited US coronavirus stimulus package boosted the bullion’s appeal as a hedge against inflation.
Spot gold rose 0.7% to $1,712.46 per ounce by 4.24am, after hitting its lowest since June 8 at $1,686.40 on Friday. US gold futures climbed 0.7% to $1,709.90...