Gold prices gain as dollar falls – GulfToday
- Date: 25-Jan-2021
- Source: Gulf Today
- Sector:Financial Markets
- Country:Middle East
Gold prices gain as dollar falls – GulfToday
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Gulf Today Report
Gold prices rose on Monday as the dollar declined and investors remain hopeful for a massive stimulus to be passed soon.
Spot gold rose 0.1% to $1,854.95 per ounce, it has regained from the 0.9% fall in the previous session. US gold futures eased 0.1% to $1,854.30.
Republicans showed concerns about the $1.9 trillion pandemic relief proposal being too expensive, President Joe Biden's administration tried to head it off on a Sunday call.
Lachlan Shaw, National Australia Bank's head of commodity research said, "we're seeing bigger question marks over the passage of Biden's stimulus package, Senate Republicans are starting to stand a bit more objectionable with particular parts of the package."
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