{"id":41204,"date":"2021-02-09T15:03:09","date_gmt":"2021-02-09T11:03:09","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=41204"},"modified":"2021-02-09T14:42:41","modified_gmt":"2021-02-09T10:42:41","slug":"gold-is-gaining-as-us-dollar-continues-to-decline","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-is-gaining-as-us-dollar-continues-to-decline\/02\/09\/market-updates\/","title":{"rendered":"Gold is Gaining as US Dollar Continues to Decline"},"content":{"rendered":"\n<p>Gold prices rose near their highest level in a week on Tuesday, February 9th, as the dollar faltered and expectations that a huge US fiscal stimulus will soon be passed to revive the world&#8217;s largest economy.<\/p>\n\n\n\n<p>Spot gold rose 0.5% to $1839.02 an ounce, after reaching $1843.04 earlier in the session, its highest level since February 3, while US gold futures rose 0.5% to $1,842.60.<\/p>\n\n\n\n<p><a href=\"https:\/\/noortrends.ae\/en\/currencies-overview-us-dollar-at-its-lowest-level-in-a-week\/02\/09\/market-updates\/\" class=\"rank-math-link\">The dollar fell to its lowest level in more than a week against competing currencies<\/a>, reducing the cost of gold to holders of other currencies.<\/p>\n\n\n\n<p>Congress is expected to pass Biden&#8217;s $ 1.9 trillion packages to mitigate the fallout from the Corona pandemic before March 15 even without Republican support. Gold is viewed as a hedge against inflation and a depreciating currency, likely stemming from a broad-based stimulus. Analysts said the record rise in Bitcoin boosted some sentiment.<\/p>\n\n\n\n<p>Among the other precious metals, silver rose in spot transactions 0.7% to $27.43 an ounce, while palladium rose 0.5% to $2341.54.<\/p>\n\n\n\n<p>Platinum rose 1.9% to $1,179.27 after earlier hitting $1,182, the highest level since August 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices rose near their highest level in a week on Tuesday, February 9th, as the dollar faltered and expectations that a huge US fiscal stimulus will soon be passed to revive the world&#8217;s largest economy. Spot gold rose 0.5% to $1839.02 an ounce, after reaching $1843.04 earlier in the session, its highest level since &hellip;<\/p>\n","protected":false},"author":9,"featured_media":39127,"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-41204","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\/41204","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=41204"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41204\/revisions"}],"predecessor-version":[{"id":41205,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/41204\/revisions\/41205"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/39127"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=41204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=41204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=41204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}