Gold falls as dollar advances, overshadowing US stimulus
- Date: 22-Dec-2020
- Source: Gulf Today
- Sector:Financial Markets
- Country:Middle East
Gold falls as dollar advances, overshadowing US stimulus
The new coronavirus strain in the UK led to a lockdown and a lot of countries closing their borders to Britain. That has affected the anticipated economic recovery and giving room for the dollar to gain momentum.
Gold has gained above 23% in 2020 due to the pandemic stimulus that fuelled fears of inflation.
Gold should trade in a $1,850-$1,930 range in the near-term, underpinned by pandemic developments, he added.
Silver slipped 1.6% to $25.74 an ounce. Platinum dropped 2% to $989.27 6, while palladium rose 0.1% to $2,310.75.
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