Gold
prices rose today, supported by the decline of the dollar, as investors are
betting that the US jobs data and the increase in Corona infections will push
the authorities to announce more stimulus measures.
Spot
gold rose 0.2 percent to $ 1809.61 an ounce, by 05:31 GMT, and US gold futures
rose 0.1 percent to $ 1807.80 an ounce.
"We
noticed an improvement in risk appetite due to optimism about the vaccine, and
this was headwind for gold," said Harshall Barrott, South Asia research
consultant at Metal Fox.
The
dollar index fell 0.1 percent today, which enhances gold's appeal to holders of
other currencies. Gold is seen as a hedge against inflation, which is likely to
result from massive stimulus measures.
Among the other precious metals, silver rose 0.3 percent to $ 23.38 an ounce. Platinum rose 0.4 percent to $ 967.15 an ounce, and palladium gained 1.2 percent to $ 2,368.68 an ounce.
