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Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages.
In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus plans reach their expiry date in July. In the E.U., leaders have reached upon an agreement for a €750 billion ($857.979 billion) stimulus plan during the E.U. summit earlier in the day.
Gold futures gained 0.12%, trading at $1,819.55 per ounce at 1:40 AM ET (6:40 AM GMT), continuing gains from the previous session and keeping above the $1,800 level.
The yellow metal further gained strength amid fresh hope on news of potential COVID-19 vaccines from various firms.
British drugmaker AstraZeneca and Oxford University both reported on Monday that its potential COVID-19 vaccine have induced immune responses in all study participants that received two doses. Meanwhile, Cansino Biologics along with China’s military research unit, German biotech firm BioNTech, and U.S. drugmaker Pfizer also reported similar preliminary results on the same day.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
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 ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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 ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
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