Mubasher: Gold prices fell globally upon settlement of trading today, Thursday, to give up their highest levels in two weeks, with US stocks rise To record levels.
The yellow metal fell as risk appetite increased, amid investor optimism with the start of Joe Biden’s presidency, but the falling dollar reduced gold’s losses.
The US President has taken several executive orders to confront the outbreak of the Corona virus, but investors are awaiting the developments of the proposed stimulus package worth 1.9 trillion dollars.
In economic data, jobless claims fell in the United States over the past week, better than expectations.
Upon settlement, the price of gold futures contracts for February delivery fell 0.1 percent to $ 1865.90 an ounce.
By 6:50 pm GMT, the spot price for the yellow metal had fallen by 0.3 percent to $ 1865.66 an ounce.
During the same period, the main dollar index, which measures the currency’s performance against 6 major currencies, declined by 0.3 percent to 90.12.