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Gold Rises as Stimulus Hopes Increased on US Data and Virus Fears

Adel 26 November, 2020 12:24 pm Commodities, Market Update

Gold prices rose Thursday, November 26, supported by the dollar’s decline, as investors bet that the disappointing US jobs data and the increase in Covid-19 cases around the world are prompting the authorities to announce more stimulus measures.

Spot gold rose 0.2% to $ 1809.61 an ounce. US gold futures rose 0.1% to $1807.80. The dollar index fell 0.1% today, which reinforces the attractiveness of gold for holders of other currencies.

Among the other precious metals, silver rose 0.3% to $ 23.38 an ounce. Platinum rose 0.4% to $ 967.15 and palladium profit 1.2%, to $ 2,368.68.

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