Gold prices saw gains on Wednesday following a decline in the last session as investors doubted U.S. President Trump’s proposed stimulus package to ease the virus’ impact.
Spot gold gained 0.4%, at $1,656.37 per ounce while U.S. gold futures slid 0.2%, at $1,656.70.
The White House and the U.S. Congress discussed measures to implement in order to protect the U.S. economy and workforce against the epidemic.
Asian shares and Wall Street futures dropped as skepticism grows around the U.S. government’s stimulus package, causing an early rally to cut.
10-year U.S. Treasury yields slid, nearing an all-time low earlier in the week. The U.S. dollar was down against other currencies as market sentiment over the virus prevailed.
The total confirmed cases of COVID-19 had topped 116,000 on Tuesday, with 80,000 in Mainland China.
The U.S. Federal Reserve was expected by analysts to slash interest rates on its policy meeting next week.
The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust slipped 0.2%, at 962.03 tonnes.
Meanwhile, the palladium lost 0.6%, at $2,404.58 an ounce; platinum gained 0.8%, at $875.37; and silver went up 1.3%, at $17.08 an ounce.
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...