Gold on Track For a Weekly Gain

Gold prices stabilized today, Friday, and is heading towards achieving its first weekly gain in 4 weeks, as the dollar retreated due to growing hopes for an American stimulus, and before the release NFP due at a later time. Today.

The gold spot was little changed at $1840.75 an ounce, before Asian market close. US gold futures rose 0.2% to $ 1844.10.

Gold has added about 3% since the beginning of this week.

The dollar is on its way to its worst weekly performance since early November, reducing the price of gold to holders of other currencies.

A $ 908 billion, bipartisan aid plan for coronavirus relief in the United States gained momentum in the US Congress on Thursday, as conservative lawmakers showed their support.

The yellow metal was also supported after Pfizer lowered its target to distribute its COVID-19 vaccine.

As for the other precious metals, platinum gained 0.8% to $ 1037.67 an ounce, and palladium gained 1.7% to $ 2340.32.

Silver was down 0.1% to $ 24.03 an ounce, but is on track to rise 5.8% for the week.