Gold set for an increase due to US stimulus hope
- Date: 04-Dec-2020
- Source: Gulf Today
- Sector:Oil & Gas
- Country:uae-top-picks
Gold set for an increase due to US stimulus hope
Gold remains steady on Friday as investors hope for US stimulus increases in preparation for US non-farm payrolls data due later in the day.
Spot gold was little changed at $1,840.75 per ounce by 05:28 GMT. US gold futures were up 0.2% at $1,844.10. Gold has added about 3% so far this week.
"Upward momentum (in gold) is strong partly because of a weakening dollar and prices have been technically oversold," said Margaret Yang, a strategist at DailyFX.
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