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.