Gold Jumping on Support of US Stimulus And Lockdown

Gold rose today, Monday, to its highest in six weeks, boosted by news that leaders of the US Congress have reached an agreement on an aid package linked to the Coronavirus, while the appetite for higher-risk assets is undermined by lockdown measures in Britain, which increased support for the metal.

Spot gold rose 1.1% to $ 1,900 an ounce after earlier touching its highest levels since the ninth of November at $1901. US gold futures rose 0.9% to $1,904.8.

The $ 900 million packages, which will be the second-largest economic stimulus in the history of the United States, comes at a time when the pandemic is accelerating, with the rate of infections in the country exceeding 214,000 people per day.