{"id":320029,"date":"2020-12-17T13:09:58","date_gmt":"2020-12-17T13:09:58","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=320029"},"modified":"2020-12-17T13:09:58","modified_gmt":"2020-12-17T13:09:58","slug":"gold-jumps-1-on-dollar-slide-u-s-stimulus-progress","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2020\/12\/17\/gold-jumps-1-on-dollar-slide-u-s-stimulus-progress\/","title":{"rendered":"Gold jumps 1% on dollar slide, U.S. stimulus progress"},"content":{"rendered":"<p>Gold prices rose as much as 1% on Thursday as the dollar index extended its slide on progress with U.S. stimulus plans and the Federal Reserve\u2019s commitment to pump more cash into the economy and keep interest rates low.<\/p>\n<p>Spot gold was up 0.5% to $1,874.14 per ounce, having hit a near one-month high of $1,882.76 earlier in the session. U.S. gold futures were up 1.1% to $1,878.50.<\/p>\n<div class=\"BoxInline-container  \">\n<div id=\"BoxInline-ArticleBody-5\" class=\"BoxInline-container\" data-module=\"mps-slot\"><\/div>\n<\/div>\n<p>\u201cThe Fed\u2019s decision clearly indicates that it is not convinced of an economic recovery yet,\u201d Quantitative Commodity Research analyst Peter Fertig said.<\/p>\n<p>\u201cGiven, the stand of the Fed and other central banks, there are indications that inflation will go up in future and with the dollar index down quite a bit, gold looks like an attractive investment.\u201d<\/p>\n<p>Legislators said on Wednesday, U.S. congressional negotiators were \u201cclosing in\u201d on a $900 billion COVID-19 assistance package planned to provide $600-$700 stimulus checks for individuals, dragging the dollar to a more than two year low.<\/p>\n<p>The Fed has also vowed to maintain its bond-buying policy until the U.S. economic recovery is secure.<\/p>\n<p>\u201cIf the central banks keep tolerating a higher inflation level, it will bring down real rates further, helping reduce the opportunity cost of holding gold,\u201d said Ravindra Rao, vice president, commodities at Kotak Securities.<\/p>\n<div class=\"MidResponsive-midResponsiveContainer\">\n<div id=\"MidResponsive-8\" class=\"\" data-module=\"mps-slot\"><\/div>\n<\/div>\n<p>Investors are now eyeing the Bank of England\u2019s policy decision, due at 1200 GMT, where it is expected to refrain from further stimulus.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices rose as much as 1% on Thursday as the dollar index extended its slide on progress with U.S. stimulus plans and the Federal Reserve\u2019s commitment to pump more cash into the economy and keep interest rates low.<\/p>\n","protected":false},"author":4,"featured_media":320030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[],"class_list":["post-320029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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