PRECIOUS-Gold gains as U.S. stimulus deal inches closer

  • Reuters
  • Commodities News
PRECIOUS-Gold gains as U.S. stimulus deal inches closer
Credit: © Reuters.

Dec 21 (Reuters) - Gold prices firmed on Monday as investors cheered news that a U.S. fiscal stimulus deal was likely to be passed, although gains were capped by a stronger dollar.


* Spot gold XAU= rose 0.4% to $1,888.76 per ounce by 0048 GMT. U.S. gold futures GCv1 firmed 0.2% to $1,892.80.

* U.S. congressional leaders have reached agreement on a $900 billion package to provide the first new aid in months to the coronavirus-hit economy, the Senate's top Republican and Democrat said on Sunday, with votes likely on Monday. Meanwhile, COVID-19 infections continued to soar globally as South Korea and London reported record new coronavirus cases on Sunday, with Britain's health minister suggesting tighter curbs could stay for some time. The U.S. dollar rose 0.2% against its major peers, reducing bullion's appeal to holders of other currencies. USD/

* Britain insisted on Sunday the European Union should shift position to open the way to a post-Brexit trade pact, prompting the bloc's negotiator to defend the union's right to protect its interests. Physical gold in India was sold at a discount last week for the first time in six weeks as a rebound in local prices squeezed demand, while purchases slowed in other Asian hubs ahead of the year-end holidays. Russia's gold reserves stood at 73.9 million troy ounces as of the start of December, the central bank said on Friday. Hedge funds and money managers raised their bullish positions in COMEX gold and silver contracts in the week to Dec. 15, the U.S. Commodity Futures Trading Commission (CFTC) said on Friday. Silver XAG= rose 0.9% to $26.01 per ounce. Platinum XPT= was up 0.1% at $1,036.75 and palladium XPD= fell 0.1% to $2,358.71.

DATA AHEAD(GMT) 1500 Dec. Eurozone Flash Consumer Confidence

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or


Related Articles