Gold prices rose 1% due to the weak dollar and heading towards achieving the second consecutive weekly gain, as the attractiveness of the yellow metal increased as a hedge against inflation due to renewed optimism about a new US aid package to mitigate the repercussions of the Corona virus.<\/p>\n\n\n\n
Spot gold rose 0.7% to $ 1,907.16 an ounce, ahead of the opening of European markets. Gold rose 0.4% for the week.<\/p>\n\n\n\n
Gold in US futures rose 1% to $ 1912.40.<\/p>\n\n\n\n
The dollar index fell against its rivals and is on track for its second consecutive weekly decline.<\/p>\n\n\n\n
Talks have resumed between House Speaker Nancy Pelosi and US Treasury Secretary Stephen Mnuchin on the coronavirus aid plan.<\/p>\n\n\n\n
A major advance for Democratic presidential candidate Joe Biden is also seen as opening the way to major economic stimulus.<\/p>\n\n\n\n
And gold, which is considered a hedge in the face of inflation and a depressed currency, has gained about 26% since the beginning of this year, supported by unprecedented stimulus globally to mitigate the economic effects of the Coronavirus pandemic.<\/p>\n\n\n\n
As for the other precious metals, silver rose 1.5% to $ 24.17 an ounce and rose 2% for the week.<\/p>\n\n\n\n
Platinum gained 1.5% to $ 875.33, and palladium gained 0.5% to $ 2,383.16.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose 1% due to the weak dollar and heading towards achieving the second consecutive weekly gain, as the attractiveness of the yellow metal increased as a hedge against inflation due to renewed optimism about a new US aid package to mitigate the repercussions of the Corona virus. Spot gold rose 0.7% to $ …<\/p>\n","protected":false},"author":9,"featured_media":30995,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-35246","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=35246"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35246\/revisions"}],"predecessor-version":[{"id":35247,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35246\/revisions\/35247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/30995"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=35246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=35246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=35246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}