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 […]

Get involved!

Get Connected!

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

Comments

No comments yet