Gold inches lower as dollar gains ground

Gold inches lower as dollar gains ground

A one kilo Swiss gold bar and US dollars gold coins are pictured in Paris on February 20, 2020.

JOEL SAGET| AFP via Getty Images

Gold prices eased to an over one-week low on Monday in early Asia trade as the dollar firmed and talks over the new U.S. coronavirus aid package showed no signs of progress. Fundamentals

Spot gold fell 0.1% to $1,899.41 per ounce by 0053 GMT, after hitting $1,890.19, its lowest since Oct. 15.U.S. gold futures were down 0.2% at $1,900.The dollar index was up 0.1% against a basket of currencies.U.S. House Speaker Nancy Pelosi said on Sunday the Trump administration was reviewing the latest plan for more COVID-19 relief over the weekend and that she expected a response on Monday, adding that she was still optimistic a deal could be reached.U.S. reported 79,852 new infections on Saturday, close to the previous day’s record of 84,244 new cases. […]

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