KONTAN.CO.ID - JAKARTA. Gold slipped as much as 1% on Thursday as the dollar firmed and progress in COVID-19 vaccine development boosted hopes of a faster economic rebound and tempered bets for an immediate U.S. coronavirus relief package. Spot gold fell 0.8% to $1,856.58 per ounce by 9:47 a.m. EST (1447 GMT), after hitting its lowest since Nov. 9 at $1,851.83. U.S. gold futures slipped 0.9% to $1,856.80. A stronger dollar and uncertainty over further economic stimulus is weighing on gold, said Jeffrey Sica, founder of Circle Squared Alternative Investments. "Though there's an anticipation for more (stimulus), some people are electing to take profits until there's more clarity."
Gold falls 1% on stronger dollar, economic rebound hopes
KONTAN.CO.ID - JAKARTA. Gold slipped as much as 1% on Thursday as the dollar firmed and progress in COVID-19 vaccine development boosted hopes of a faster economic rebound and tempered bets for an immediate U.S. coronavirus relief package. Spot gold fell 0.8% to $1,856.58 per ounce by 9:47 a.m. EST (1447 GMT), after hitting its lowest since Nov. 9 at $1,851.83. U.S. gold futures slipped 0.9% to $1,856.80. A stronger dollar and uncertainty over further economic stimulus is weighing on gold, said Jeffrey Sica, founder of Circle Squared Alternative Investments. "Though there's an anticipation for more (stimulus), some people are electing to take profits until there's more clarity."