Gold gave up early gains today, Tuesday, to trade unchanged without the peak of seven and a half years recorded in the previous session, with improved appetite for risk thanks to promising early data for a possible vaccine for Covid-19 disease.
By 0650 GMT, the spot price of gold was stable at $ 1731.50 an ounce, after rising 0.5% earlier in the day due to renewed US-China trade tensions and global stimulus measures. And US gold futures fell 0.1 percent to 1733.30 dollars.
Stephen Enns, chief market strategist at Axi Corp Financial Services, said that despite news of a potential Corona virus vaccine that has fueled stock market boilers, gold will continue to receive relatively high turnout given the “extremely massive” US Federal Reserve spending.
Palladium rose 0.7% to $ 2026.88 an ounce, after jumping more than 9% during Monday’s transactions.
And platinum fell 0.4% to $ 814.67, and silver fell 0.7% to $ 17.05 an ounce.
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