Gold Rises as US Dollar Weakens With Hopes For a US Stimulus

Gold prices rose slightly Thursday, supported by the decline of the dollar and renewed optimism about some aid to mitigate the repercussions of the Corona pandemic in the United States, while investors awaited the weekly jobless claims data to gauge the strength of the world’s largest economy.

Spot gold prices increased 0.1% to $ 1888.46 an ounce, and US gold futures rose 0.1% to $ 1892.80 an ounce.

After US President Donald Trump ended negotiations on a larger stimulus deal, he wrote on Twitter that Congress must agree to grant financial aid to airlines and small businesses and $ 1,200 incentive checks to individuals, boosting hopes for a partial deal.

The dollar index fell 0.1% against its rivals, while Asian stocks hit their highest level in a month.

As for the rest of the precious metals, silver rose 0.2% to $ 23.88 an ounce. Platinum fell 0.1% to $ 863.25 an ounce.

Palladium rose 0.4% to $ 2,362.44 an ounce.