empty
 
 

2021.01.2509:41:00UTC+00Gold Holds Steady On Weaker Dollar

Gold prices were little changed on Monday as the dollar weakened amid U.S. stimulus optimism and ahead of the Federal Reserve's monetary policy meeting this week.

Spot gold was virtually unchanged at $1,855.87 per ounce, after having declined 0.9 percent in the previous session. U.S. gold futures were marginally lower at $1,855.35.

Amid bitter political differences, lawmakers in Washington are getting to work on the $1.9-trillion stimulus proposal from the new president.

According to the Financial Times, Joe Biden faces a narrow window to clinch bipartisan support for his $1.9tn stimulus plan, after congressional Democrats said they wanted a deal before the impeachment trial against Donald Trump.

Senate Republicans say Americans may have to wait "a couple of months" until they receive a $1,400 stimulus check.

Investors, however, expect some additional spending to materialize eventually that will help lift global economic growth.

The U.S. Federal Reserve meets on Wednesday amid bets that officials will likely put off any changes in their bond-buying program until 2022.

Rising Covid-19 cases and growing frustration over vaccination availability also supported the precious metal.

Italian Prime Minister Giuseppe Conte described delays in consignments by Pfizer Inc. and AstraZeneca Plc as "unacceptable."

Elsewhere, U.K. health minister Matt Hancock warned that coronavirus vaccines may be less effective against new variants of the disease.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback