We show you our visitors the most important and latest news in the following article:
Gold rises 1% due to the drop in the dollar … and hopes for US stimulus, today, Saturday, October 10, 2020 10:28 am
Spot gold rose 0.7 percent to 1,907.16 dollars an ounce, and gold rose 0.4 percent for the week.
And gold in US futures rose 1 percent to $ 1912.40.
The dollar index fell against its rivals, and is on track for its second consecutive weekly decline.
Talks have resumed between House Speaker Nancy Pelosi and US Treasury Secretary Stephen Mnuchin on the coronavirus aid plan.
A major advance for Democratic presidential candidate Joe Biden is also seen as opening the way to major economic stimulus.
And gold, which is considered a hedge in the face of inflation and a depressed currency, has gained about 26 percent since the beginning of this year, supported by unprecedented stimulus globally to mitigate the economic effects of the Coronavirus pandemic.
As for the other precious metals, silver rose 1.5 percent to $ 24.17 an ounce and rose 2 percent for the week. Platinum gained 1.5% to $ 875.33, and palladium gained 0.5% to $ 2,383.16.
These were the details of the news Gold rises 1% on the decline of the dollar … and... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.