Gold prices gain as dollar declines due to hope for US stimulus
- Date: 21-Jan-2021
- Source: Gulf Today
- Sector:Financial Markets
- Country:Middle East
Gold prices gain as dollar declines due to hope for US stimulus
Picture used for illustrative purpose. File
Gulf Today Report
Gold advanced on Thursday its highest in two weeks following a decline in US dollar on hope for more stimulus as Joe Biden gets inaugurated.
Spot gold was up 0.1% at $1,873.36 per ounce while US gold futures gained 0.3% to $1,871.70. Bullion had gained 1.7% on Wednesday.
DailyFX strategist Margaret Yang said, "gold has some more upside in the slightly longer horizon, given that global central banks are likely to stay dovish for an extended period of time."
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