/PRNewswire/ As a result of as the dollar and U.S. Treasury yields continuous rise, gold prices slid more than 1% on Monday to a nine-month low. However,.
Gold Miners Look to A Fruitful Year After a Tumultuous 2020
FinancialBuzz.com News Commentary
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NEW YORK, Dec. 29, 2020 /PRNewswire/ Gold prices increased about 1% on Monday after the new USD 2.3 Trillion bill that contains USD 900 Billion in pandemic relief aid and USD 1.4 Trillion in government spending to fund federal agencies was signed by the President. The bill removes immediate uncertainty with distribution of checks and loans to individuals and small businesses, as well as funds to assist the vaccine rollout. The demand for gold is a reaction to the additional economic stimuluses for business and individuals. Such measures also impact the price of precious metals. According to a report by FX Empire, on Monday, gold tested the upper level of its main retracement zone at USD 1870.30 to USD 1894.60. Clarity Gold Corp. (CSE: CLAR), NovaGold Resources Inc. (NYSE: NG), Yamana Gold Inc. (NYSE: AUY) (TSX: YRI), Alamos Gold Inc. (NYSE: AGI),