Gold prices are heading today, Friday, to record a decline for the second week in a row, as the attractiveness of the yellow metal is under pressure from promising tests for a Covid-19 vaccine and news that the US Treasury is ending emergency loan programs.<\/p>\n\n\n\n
Gold fell in immediate transactions 0.1% to 1866.28 dollars an ounce with the Asian markets closed, and it fell 1.1% for the week.<\/p>\n\n\n\n
US gold futures rose 0.3% to $ 1867.90.<\/p>\n\n\n\n
In a letter to Jerome Powell, Chairman of the Federal Reserve Board, Stephen Mnuchin, Secretary of the Treasury, said that $ 455 billion earmarked for the Treasury under the CARES Act will be available to Congress for reallocation. Global stocks fell today, after his remarks.<\/p>\n\n\n\n
And gold, which is considered a hedge in the face of inflation and a depressed currency, has gained 23% since the beginning of the year, mainly benefiting from unprecedented stimulus measures that were unveiled to mitigate the impact of the pandemic.<\/p>\n\n\n\n
Meanwhile, data showed that the vaccine that AstraZeneca and the University of Oxford are working on produced has achieved a strong immune response in the elderly, allaying some of the concerns that have been fueled by the escalation of the pandemic.<\/p>\n\n\n\n
As for the rest of the precious metals, silver rose 0.1% to $ 24.12 an ounce. Platinum and palladium gained 0.4% to $ 955.09 and $ 2,333.69, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices are heading today, Friday, to record a decline for the second week in a row, as the attractiveness of the yellow metal is under pressure from promising tests for a Covid-19 vaccine and news that the US Treasury is ending emergency loan programs. Gold fell in immediate transactions 0.1% to 1866.28 dollars an …<\/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-37450","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\/37450","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=37450"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/37450\/revisions"}],"predecessor-version":[{"id":37451,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/37450\/revisions\/37451"}],"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=37450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=37450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=37450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}