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By Shreyansi Singh (Reuters) - Gold prices fell on Wednesday as strong economic data from the United States bolstered hopes of a swift recovery, with focus also turning to minutes from the Federal Reserve s last policy meeting for monetary policy cues. Spot gold fell 0.3% to $1,738.35 per ounce by 10:26 a.m. EDT (1426 GMT). U.S. gold futures were down 0.2% at $1,739.90. The gold market is looking at an economy that s recovering much quicker than anyone anticipated, which could change the stance of the of the Fed going forward, said Jeffrey Sica, founder of Circle Squared Alternative Investments. Investors were re-calibrating their expectations on the Fed s monetary policy, with some investors expecting the Fed to abandon its pledge to keep interest rates near zero until 2024. ....
[BENGALURU] Gold slumped more than 4 per cent on Friday and silver followed with a near 10 per cent plunge as prospects for a smooth transition of power in Washington and a jump in US Treasury yields hammered the precious complex. Read more at The Business Times. ....
[BENGALURU] Gold prices rose in holiday-thinned trade on Thursday as investors remained optimistic over US stimulus and the US dollar was mostly lower after Britain clinched a trade deal with the European Union. Read more at The Business Times. ....
Gold prices slipped on Friday after three days of gains as the dollar’s rebound offset support from hopes of a U.S. fiscal stimulus package. Spot gold was down 0.1% at $1,883.39 per ounce. U.S. gold futures fell 0.1% to $1,889.30 per ounce. With coronavirus infections roaring back to new record highs across the United States, pressure mounted on lawmakers to deliver more relief aid in time for a crucial Friday deadline. “Gold has attached itself entirely to the negotiations on the stimulus package. … The market will rally if there’s positive momentum towards reaching a stimulus deal, and if there’s any indication of a delay gold pulls back,” said Jeffrey Sica, founder of Circle Squared Alternative Investments. ....
of a U.S. fiscal stimulus package. Spot gold was down 0.3% at $1,880.11 per ounce by 2:44 p.m. ET (1944 GMT). U.S. gold futures settled down 0.1% at $1,888.90. across the United States, pressure mounted on lawmakers to deliver more relief aid in time for a crucial Friday deadline. “Gold has attached itself entirely to the negotiations on the stimulus package. … The market will rally if there’s positive momentum towards reaching a stimulus deal, and if there’s any indication of a delay gold pulls back,” said Jeffrey Sica, founder of Circle Squared Alternative Investments. “Once stimulus gets approved in its entirety, I anticipate ....