World News – GB – Gold price returns above $ 1900 – MINESCOM


The price of bullion rose again on Tuesday, hitting its highest level in nearly a week, as investors await the first U.S. presidential debate and further developments on a new bill on relief from coronaviruses

Spot gold advanced 08% to $ 1896 80 per ounce by 2 pm EDT, after briefly touching the $ 1900 per ounce mark earlier in the session US gold futures also gained 11% , trading at 1903 $ 40 an ounce on the Comex in New York

« A slight influx of gold-backed ETFs confirms the idea that gold is in demand again as a safe haven after highs fell to last week’s lows, » said Peter Fertig , analyst at Quantitative Commodity Research, in an interview with Reuters

« While a weaker dollar and continued monetary stimulus could push gold back above $ 1,900, its ability to test new highs this year will depend on political and economic developments in the states. – United and if that triggers a demand for a safe haven « , he added

Meanwhile, the US dollar was down 04% against a basket of other major currencies ahead of Tuesday’s debate between President Donald Trump and Democratic rival Joe Biden

« The possibility that Biden is doing well could put upward pressure on gold as it could cause the dollar to sell, » said Michael Hewson, chief market analyst at CMC Markets UK

Investors are also closely watching the prospect of a coronavirus tax package with Democratic lawmakers unveiling a $ 2 trillion relief bill on Monday evening, although no date has been given for a vote on the proposal

Gold, Donald Trump, Joe Biden, US presidential debates, debate

News from around the world – UK – Gold prices return above $ 1,900 – MINESCOM


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