Yellow metal price melts after stimulus hopes rise

Yellow metal price melts after stimulus hopes rise

Gold witnessed a downfall during the initial session in Asia on Thursday after hopes for the stimulus got renewed in the US. It retracted from the safe havens yellow metal.

The Gold Futures slid down to $1,887.65, a loss of 0.17 per cent at 3:36 AM GMT. Likewise, the dollar also stepped down a bit, giving away its profits earlier.

Reportedly, President Trump had tweeted on twitter for the Congress to pass funds for airlines, stimulus checks ($1,200 for each individual), and small businesses. The step came after the cessation of talks between Republicans and Democrats.

However, the concern of these packages getting passed before the Presidential elections on November 3 is hovering. The chances seem thin as the officials of the White House are not paying much attention to the matter.

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