PRECIOUS-Gold prices firm as dollar eases after Biden win

Credit: REUTERS/ARND WIEGMANN 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. [USD/]* 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.* Gold tends […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet