Gold rises as US Dollar Weaken Ahead of the US Senate Vote on Stimulus

Gold prices rose on Tuesday, December 29th, buoyed by the dollar’s decline, as investors’ eyes turned to the US Senate vote on an increase in aid linked to the pandemic, but rising Asian stocks limited the gains.

This rose gold in immediate transactions 0.4% to 1877.66 dollars an ounce. The metal rose 1.3% on Monday after approving an aid package in the United States of nearly $ 900 billion. There was little change in the US gold futures contract, to $ 1880.90.

The dollar fell 0.2% against competing currencies, while Asian stocks rose, as Japan’s shares reached a 30-year high, supported by optimism, ahead of the US Senate vote today on payments related to Covid-19 worth $ 2000.

Gold, which is considered a hedge against inflation, has gained more than 23% this year, which is largely due to a set of stimulus measures adopted to mitigate the impact of the pandemic.

Silver fell 0.3% to $26.07 an ounce. Platinum rose 0.5% to $1,036.60 and palladium rose 1.6% to $2,361.68.