Gold To Track Global Stimulus Talks

Published on Nov 18, 2020 12:53

COMEX Gold saw a very tight movement yesterday. However, the metal stays broadly supported on hopes of heavy economic stimulus by leading global economies. The surge in coronavirus cases is a big concern for an economic recovery that still has a long way to go and the will continue to need support from both fiscal and monetary policy, Federal Reserve Chair Jerome Powell said on Tuesday. The European Central Bank or ECB will preserve favourable financing conditions for as long as necessary, Executive Board member Isabel Schnabel noted. The yellow metal currently trades at $1879 per ounce, down 0.28% on the day, witnessing some selling in Asia.