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Gold gains as U.S. jobs data, virus fears fuel stimulus hopes

Category: Economy

Date: 2020-11-26T07:43:19+0000
Gold gains as U.S. jobs data, virus fears fuel stimulus hopes

Shafaq News/ Gold prices rose on Thursday, aided by a weaker dollar, as investors bet that grim U.S. jobs data and surging COVID-19 cases worldwide would spur authorities to announce further stimulus measures.

Spot gold rose 0.2% to $1,810.05 per ounce by 0710 GMT.

U.S. gold futures were up 0.1% at $1,807.80.

The dollar index edged down 0.1% on Thursday strengthening gold's appeal to other currency holders.

Gold is seen as a hedge against inflation likely to result from large stimulus.

Silver rose 0.3% to $23.38 an ounce, Platinum gained 0.4% to $967.15 and palladium was 1.2% higher at $2,368.68.

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