Gold traded steady on Wednesday after snapping a three-session winning streak in the previous day, as a rally in equity markets on hopes of more stimulus offset some support from a weaker dollar.
Spot gold was unchanged at $1,727.65 per ounce by 8:29 am, after declining 0.7% on Tuesday. U.S. gold futures fell 0.1% to $1,732.20.
Asian shares vaulted to a near three-month high as hopes of more stimulus and a further easing in social restrictions outweighed caution over a host of worries from the coronavirus to growing U.S. civil unrest.
Governments and central banks around the world have unleashed unprecedented fiscal and monetary stimulus and other support for economies floored by the coronavirus pandemic.
Helping gold, the dollar index was down 0.2%, trading at a more than two-month low.
In other metals, palladium rose 1% to $1,968.20 per ounce, while platinum fell 0.3% to $836.25. Silver fell 1.3% to $17.86, having hit its highest since Feb. 25 on Monday.
10 Jul 2020 04:28 PM
Indian shares closed lower on Friday as record daily increases of domestic coronavirus cases threatened to disrupt an economic recovery, with financial stocks taking the brunt of the losses.
10 Jul 2020 02:34 PM
The Indian rupee logged its worst week against the dollar in 14 weeks
10 Jul 2020 02:07 PM
Sterling traded slightly lower versus the U.S. dollar and was unmoved against the euro on Friday
10 Jul 2020 11:51 AM
Indian shares fell on Friday as a relentless surge in domestic coronavirus cases threatened to disrupt an economic recovery, although gains in pharmaceuticals and heavyweight Reliance Industries helped limit losses.
10 Jul 2020 11:15 AM
The yuan pulled back from a four-month high against the dollar on Friday as China's stock market rally ran out of steam
10 Jul 2020 10:49 AM
Gold was set for a fifth straight weekly gain on Friday as worries over a spike in U.S. coronavirus cases kept the safe-haven metal near the technical $1,800-per-ounce threshold.