Gold nose dives as Donald cancels talks of stimulus

Gold nose dives as Donald cancels talks of stimulus

The Wednesday commodity market witnessed the yellow metal taking a nosedive in the initial session after the US President declined to talk about the stimulus package for battling COVID-19 and measures to strengthening the weakening dollar prices.

Gold futures slipped to $1,886.45, that is 1.17 per cent down at 3:44 AM GMT. Notably, it had hit a one-week low in the last session.

The POTUS, who is recovering from the pandemic, refused any talks with Democrats until the presidential elections slated to happen on November 3. He took to Twitter, the social media giant and expressed his version. It dashed the hopes of the Congress passing the package before that.

Reportedly, after a record number of cases, new restrictions have been imposed in six states of the US.

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