Gold falls for a second week – GulfToday

  • Date: 20-Nov-2020
  • Source: Gulf Today
  • Sector:Oil & Gas
  • Country:Gulf
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Gold falls for a second week – GulfToday

UAE eCommerce sector to continue upward trajectory

Gold, which serves as a shield against inflation and currency debasement has advanced by 23% this year. This was due to the stimulus injected into the economy.

Stephen Innes, chief global market strategist at financial services said, "It's going to be a huge bumpy ride (for gold) waiting for stimulus to come in. It is now looking at $1,900 into year-end."

Silver rose 0.1% to $24.12 per ounce. Platinum and palladium gained 0.4% to $955.09 and $2,333.69, respectively.