Gold edges up as U.S. dollar retracts


Shafaq News/ Gold edged higher on Wednesday as the U.S. dollar and Treasury yields pulled back, and the prospect of massive U.S. fiscal stimulus boosted the metal's appeal as an inflation hedge.

Spot gold rose 0.2% to $1,859.20 per ounce by 07:53 GMT, while U.S. gold futures gained 0.8% to $1,858.

silver dipped 0.2% to $25.52 an ounce, platinum rose 0.3% to $1,079.34 and palladium climbed 0.2% to $2,395.79.

U.S. President-elect Joe Biden said he would unveil on Thursday a plan to inject the virus-hit economy with "trillions" of dollars in relief measures.

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