PRECIOUS-Gold prices firm as dollar eases after Biden win

PRECIOUS-Gold prices firm as dollar eases after Biden win

Nov 9 (Reuters) – Gold prices edged higher in early Asian trade on Monday, propped up by a weaker dollar and hopes of more stimulus measures under U.S. President-elect Joe Biden. FUNDAMENTALS * Spot gold rose 0.1% to $1,953.45 per ounce by 0049 GMT. On Friday it hit $1,960.13, the highest since Sept. 18. * U.S. gold futures rose 0.2% to $1,955.60 per ounce. * The dollar index was hovering near a more than two-month low. * Biden and his advisers are working on plans to tackle the crises facing a divided America, first and foremost the raging pandemic, a day after the Democrat won enough states to clinch the U.S. presidency. * A potentially divided U.S. government with Republicans in control of the Senate may mean a smaller fiscal stimulus package, but that could put the spotlight on the Federal Reserve to do more to revive the economy. […]

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