Gold closes higher for second straight session

Economies.com
2020-12-02 20:20PM UTC

Gold prices rose on Wednesday, as the US dollar fell against most of its peers after the release of disappointing economic data, amid expectations for a new stimulus package in the US.

 

US Treasury Secretary Steven Mnuchin met with House Speaker Nancy Pelosi to talk about restarting negotiations for the second fiscal Covid-19 stimulus package.

 

The World Health Organization stated that it is reviewing Pfizer's request to allow emergency use of its Covid-19 vaccine, after the virus' death toll rose to more than 1.5 million victims worldwide.

 

The dollar index fell against a basket of major currencies by 0.1% to 91.1 points as of 20:07 GMT, after hitting a high of 91.5 points and a low of 91.1 points.

 

ADB data showed today that the US private sector added 307K new jobs in November after adding 407K in October, missing forecasts of 433K.

 

Gold February futures rose 0.6% or $11.30, and closed at $1,830.2 an ounce, after hitting today's high at $1,835, and the low at $1,810.5.

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