Gold prices plunge as dollar gains power

Gold prices plunge as dollar gains power

The Asian market saw gold prices losing its sheen and discontinuing the gains it made in the previous session on Thursday. Notably, investors are eyeing the prospect of the US stimulus package. 

 

Gold futures lowered its gaze to $1,916.40, losing 0.68 per cent by 4:51 AM GMT. However, it kept its held the $1900 mark firmly. It was due to the dollar rate displaying its might. 

 

In the other news, Trump and Biden will debate for the final time, later in the day. The outcome of their argument may affect the prices of the precious yellow metal. Meanwhile, in Asia, the stress between the relationship of the US and China is bludgeoning. 

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