Gold advance as investors await US stimulus
- Date: 08-Dec-2020
- Source: Gulf Today
- Sector:Oil & Gas
- Country:saudi-arabia-top-picks
Gold advance as investors await US stimulus
Gold prices jump on Tuesday as investors remain optimistic for a US fiscal stimulus to aid the pandemic-hit economy.
Spot gold rose 0.3% to $1,869.06 per ounce by 05:04 GMT, having touched its highest since Nov. 23 of $1,871.52 earlier in the session. US gold futures were up 0.4% at $1,873.50.
Market keenly awaits stimulus package, the size of the package, when it arrives and how it affects inflation will determine the gold deal, said IG Markets analyst Kyle Rodda.
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