Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

PRECIOUS-Gold inches higher on U.S. stimulus deal, COVID-19 jitters

Published 22/12/2020, 02:18
Updated 22/12/2020, 02:24

Dec 22 (Reuters) - Gold edged higher on Tuesday as investors
focussed on the U.S. fiscal stimulus package that is set to be
voted on by Congress, with fresh restrictions forced by a new
coronavirus strain in the UK providing further support to the
metal.

FUNDAMENTALS
* Spot gold XAU= rose 0.1% to $1,878.72 per ounce by 0038
GMT. U.S. gold futures GCv1 rose 0.1% to $1,884.60 per ounce.
* A majority of the U.S. House of Representatives voted to
move a $900 billion coronavirus aid bill struck by Congressional
leaders for a vote on passage on Monday evening. * Economists expect the package to support the
pandemic-ravaged economy and set it up for a stronger recovery
next year as vaccines become more widely available. * A new coronavirus strain in the UK, thought to be 70% more
infectious, prompted a lockdown affecting more than 16 million
Britons and caused several countries around the world to shut
their borders to Britain, putting Asian shares on course for a
weaker start. MKTS/GLOB
* Meanwhile, the European Union geared up to start mass
vaccinations against COVID-19 just after Christmas after Pfizer
PFE.N and its German partner BioNTech's vaccines cleared
regulatory hurdles on Monday. * British Prime Minister Boris Johnson said on Monday there
were still problems in Brexit trade talks and that Britain would
thrive without a deal. * Holdings in SPDR's Gold Trust GLD , the world's largest
gold-backed exchange-traded fund, rose 0.2% to 1,169.86 tonnes
on Monday from 1,167.82 tonnes on Friday. * Silver XAG= rose 0.2% to $26.23 an ounce. Platinum XPT=
fell 0.5% to $1,004.51 and palladium XPD= gained 0.5% to
$2,319.46.

DATA AHEAD(GMT)
1330 US Q3 GDP Final
1500 US Nov. Existing Home Sales
2350 Bank of Japan releases minutes of monetary policy
meeting held on Oct. 28 and 29

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.