Rising Stimulus Hopes Kicks Gold Upwards

Rising stimulus hopes kicks gold upwards

Wednesday morning see a gleeful rise in prices of the precious yellow metal after the US Congress looking positive to pass the coronavirus stimulus package before the presidential elections and weak dollar.

Gold futures rose to $1922.75, which is a profit of 0.38 per cent by 4:26 AM GMT. However, the dollar plunged earlier in the day.

Interestingly, after President Donald Trump’s approval for the stimulus package, Republicans and Democrats have narrowed down their difference, which is making the election a close encounter.

The yellow metal exports by Switzerland to India and China went downwards considerably during September. On the other side, the SPDR Gold Trust holdings witnessed a fall to 1,269.93 tons, a loss of 0.23 per cent on Tuesday.

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