Gold muted on firmer dollar, heads for worst week in over a month

Gold muted on firmer dollar, heads for worst week in over a month

This photo shows gold bars stacked in rows.

Ktsdesign | Science Photo Library

Gold prices lingered near the one-month low hit in the previous session on Friday, as the dollar strengthened and hopes of an immediate U.S. coronavirus aid package waned. Fundamentals

Spot gold was flat at $1,867.30 per ounce by 0108 GMT and was on track to post its worst week in over a month.U.S. gold futures were down 0.1% at $1,866.20.The dollar index was steady near a one-month peak touched on Thursday and is on track for it best week since late September.President Donald Trump ’s chief economic adviser said on Thursday that any deal on coronavirus relief legislation would have to wait for now.The U.S. economy grew at a historic pace in the third quarter as the government injected more than $3 trillion worth of pandemic relief which fueled consumer spending, but the effects of the Covid-19 recession […]

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