U.S. gold futures were up 0.7% at $1,963.60 per ounce. Gold is being propped up by the weaker dollar, but prices are likely to remain "in a lateral range between $1860 and $2000," said ActivTrades chief analyst Carlo Alberto De Casa. U.S. weekly jobless claims report on Thursday showed a smaller-then expected decline in new claims, weighing on the dollar and bolstering the appeal of gold as an investment alternative.
Unprecedented stimulus has led some countries to focus on a green recovery with more renewables and lower emission vehicles. One policy response to the COVID-19 pandemic has been a determination to use fiscal stimulus to ...The post Green Metals See A Boost on COVID-19 Response appeared first on Emerging Market Views.
Spot gold dropped 0.8% to $1,943.72 per ounce by 10:58 a.m. EDT (1458 GMT), after falling to its lowest level since Sept. 9 at $1,932.36. U.S. gold futures slipped 0.9% to $1,952.50. "Despite the fact that the Fed was quite dovish, it would seem that for the gold market it wasn't dovish enough," said Bart Melek, head of commodity strategies at TD Securities.