Gold rebounds from 9-month low on weaker dollar, US stimulus
Improved sentiment from the passing of the $1.9 trillion stimulus and a dip in US dollar index are helping gold prices
Reuters | March 8, 2021 | Updated 11:10 IST
Spot gold rose 0.7% to $1,712.46 per ounce by 0224 GMT, after hitting its lowest since June 8 at $1,686.40 on Friday
Gold prices bounced back on Monday from a nine-month low hit in the previous session as the dollar softened, while passage of a long awaited US coronavirus stimulus package boosted the bullion s appeal as a hedge against inflation. Spot gold rose 0.7% to $1,712.46 per ounce by 0224 GMT, after hitting its lowest since June 8 at $1,686.40 on Friday. US gold futures climbed 0.7% to $1,709.90.
US Senate passes Joe Biden s $1.9 trillion COVID-19 relief plan in party-line vote
Final bill includes $400 billion in one-time payments of $1,400 to many Americans, with a phase-out starting for those with annual incomes above $75,000. It also includes $300 a week in extended jobless benefits for the 9.5 million people thrown out of work in the crisis
Reuters | March 7, 2021 | Updated 09:16 IST
Biden says he hopes for quick passage of revised bill by House of Representatives so he could sign it and start sending $1,400 direct payments to Americans
The US Senate on Saturday passed President Joe Biden s $1.9 trillion COVID-19 relief plan in a party-line vote after an all-night session that was delayed repeatedly as the Republican minority tried but failed to push through around three dozen amendments.