Gold rose Thursday, December 3, to its highest level in more than a week, as the dollar fell to its lowest level in several years due to hopes of soon distributing a vaccine for the Coronavirus, while investors continued to follow the developments of the stimulus agreement in the United States.<\/p>\n\n\n\n
Spot gold rose 0.1% to $ 1832.11 an ounce by 06:40 GMT, after reaching its highest level since November 24 at $ 1837.01. Gold futures in the US rose 0.3% to $ 1836.20.<\/p>\n\n\n\n
The Republicans and Democrats in Congress failed to agree on a new package to mitigate the repercussions of the Coronavirus, but there are initial indications that a proposal worth $ 908 billion, which has bipartisan approval, may gain momentum as a negotiating tool.<\/p>\n\n\n\n
He added that optimism about a vaccine for Covid-19 may have a limited impact on the yellow metal in the future, as the markets have taken most of it into account.<\/p>\n\n\n\n
And health experts in the United States welcomed the emergency approval in Britain of a vaccine developed by Pfizer, in a sign that regulatory agencies in the United States will quickly track their impact.<\/p>\n\n\n\n
Hopes of stimulus and progress on the vaccine pushed the US dollar near its two-and-a-half-year low, reducing the cost of gold to holders of other currencies.<\/p>\n\n\n\n
As for the other precious metals, silver fell 0.7% to $ 23.94 an ounce, while platinum fell 0.3% to $ 1011.72, and palladium was almost unchanged at $ 2398.13.<\/p>\n","protected":false},"excerpt":{"rendered":"
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