Gold Hovers Around $1900 Mark

Published on Oct 01, 2020 12:02

COMEX Gold stayed supported yesterday after easing from a one week high. The metal cut losses after media reports noted that US Treasury Secretary Steven Mnuchin is hopeful about reaching an agreement with House Speaker Nancy Pelosi on a new coronavirus stimulus bill. US stocks jumped on stimulus hopes. US investors were largely indifferent to the first presidential debate. Gold has been moving in line with equities these days though the break under $1900 per ounce and the recent crash to a two month low near $1850 per ounce seems to be capping the upside for the commodity. The counter currently trades up 0.34% at $1901 per ounce.