Gold prices rise as investors remain hopeful for a stimulus

  • Date: 26-Nov-2020
  • Source: Gulf Today
  • Sector:Oil & Gas
  • Country:Gulf
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Gold prices rise as investors remain hopeful for a stimulus

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Gulf Today Report

Gold gained on Thursday due to the weakness of the dollar as investors remain optimistic for announcement of stimulus measures due to surge in cases and discouraging US jobs data.

Spot gold rose 0.2% to $1,809.61 per ounce by 05:31 GMT. US gold futures were up 0.1% at $1,807.80.

The confidence for a vaccine being available soon has improved has increased risk sentiments, headwind for gold, said Harshal Barot, a senior research consultant for South Asia at Metals Focus. 

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