Gold prices advance on hope for US stimulus aid
- Date: 29-Dec-2020
- Source: Gulf Today
- Sector:Economy
- Country:Middle East
Gold prices advance on hope for US stimulus aid
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Ilya Spivak, DailyFX currency strategist said, "while a weaker dollar has supported gold, the metal is going to have a hard time finding a supportive narrative given much of the good news - passing US stimulus, a Brexit deal - looks priced in while a resurgent pandemic may drive haven dollar buying."
Gold serves as a shield against inflation, it rose by more than 23% this year.
Silver rose 0.5% to $26.28 an ounce. Platinum climbed 0.8% to $1,039.66 and palladium was up 1.5% at $2,359.18.
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