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Gold prices fell on Thursday in Asian markets after stocks rose on the back of recovering oil prices and hopes for additional fiscal stimuli.
Gold futures lost 0.30% to $1,733 per ounce by 11:02 PM ET (4:02 AM GMT).
Gold prices fell to a near 2-week low of $1,659.68 on Tuesday after oil futures plunged into negative territory for the first time the day before. However, oil prices later reclaimed its losses on Wednesday as it gained 1.9%.
A $484 billion stimulus package is expected to be passed by the U.S. House later in the day.
Investors still remain optimistic for gold with some expecting futures of the yellow metal to reach up to $1,800 in June.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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