Commodity News
HeadLine : Gold gains amid doubts over U.S. stimulus package
Date : Mar 11 2020
Gold rose on Wednesday, recouping some of the ground it lost a day earlier, as doubts regarding the U.S. stimulus package dragged down Asian equities and U.S. stock futures, and the dollar fell. Spot gold was up 0.5% at $1,657.29 per ounce , having fallen about 2% in the previous session on hopes for global stimulus measures to shield the world economy from the effects of the fast-spreading coronavirus. U.S. gold futures slipped 0.3% to $1,654.70 per ounce. Asian shares and Wall Street futures fell as growing scepticism about Washington's stimulus package to fight the outbreak knocked the steam out of an earlier rally. As U.S. coronavirus cases rose steadily, the White House and Congress negotiated measures to bolster the U.S. economy and Americans' paychecks against the outbreak's impact, although there was no immediate sign of a deal. The dollar resumed its descent against the safe-haven Japanese yen and Swiss franc after a rebound the previous day as nervous sentiment over the epidemic persisted. The euro zone economy grew at a snail's pace in the fourth quarter, figures confirmed, as investments and consumer and government spending just offset the impact of a sharp rise in imports.

Source : Reuters
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