Gold fell below the psychologically critical $ 1900 level on Monday to record the lowest price in more than a week, on US Dollar strenth and the lack of progress in talks on a new US stimulus package.<\/p>\n\n\n\n
Gold spot fell 0.2%to $ 1897.35 an ounce by 0711 GMT, after hitting $ 1890.19, its lowest level since October 15.<\/p>\n\n\n\n
On Sunday, US House of Representatives Speaker Nancy Pelosi said that President Trump’s administration was reviewing the latest plan to provide more aid to people affected by COVID-19 and that she expected a response on Monday.<\/p>\n\n\n\n
But with the presidential election approaching, analysts say that the victory of Democratic candidate Joe Biden will contribute to the rise of gold thanks to expectations of a huge stimulus package, especially with increasing covid-19 cases.<\/p>\n\n\n\n
Gold, widely seen as a hedge against inflation and currency devaluation, has risen 25% this year as central banks and governments announce unprecedented stimulus programs to mitigate the economic fallout from the pandemic.<\/p>\n\n\n\n
In the other precious metals, palladium lost 0.8% to 2372.80 dollars an ounce, while platinum fell 2% to 883.14 dollars.<\/p>\n\n\n\n
Silver fell 1.8% to $ 24.14 an ounce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold fell below the psychologically critical $ 1900 level on Monday to record the lowest price in more than a week, on US Dollar strenth and the lack of progress in talks on a new US stimulus package. Gold spot fell 0.2%to $ 1897.35 an ounce by 0711 GMT, after hitting $ 1890.19, its lowest …<\/p>\n","protected":false},"author":9,"featured_media":32631,"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-36076","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\/36076","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=36076"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/36076\/revisions"}],"predecessor-version":[{"id":36077,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/36076\/revisions\/36077"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32631"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=36076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=36076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=36076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}