KONTAN.CO.ID - BENGALURU. Gold scaled an all-time peak on Wednesday, after topping the $2,000 mark in the previous session, spurred on by a weaker dollar, falling U.S. Treasury yields and expectations of more stimulus measures to revive a pandemic-ravaged economy. Spot gold was up 0.8% at $2,033.86 per ounce by 0655 GMT, after hitting a record high of $2,036.49. U.S. gold futures rose 1.4% to $2,049.30. "The drop in the dollar and nominal yields, as speculation remains rife about global growth and any U.S. fiscal package, is what fundamentally drove gold prices higher," IG Markets analyst Kyle Rodda said.
Gold hits record above $2,000/oz on soft dollar, stimulus bets
KONTAN.CO.ID - BENGALURU. Gold scaled an all-time peak on Wednesday, after topping the $2,000 mark in the previous session, spurred on by a weaker dollar, falling U.S. Treasury yields and expectations of more stimulus measures to revive a pandemic-ravaged economy. Spot gold was up 0.8% at $2,033.86 per ounce by 0655 GMT, after hitting a record high of $2,036.49. U.S. gold futures rose 1.4% to $2,049.30. "The drop in the dollar and nominal yields, as speculation remains rife about global growth and any U.S. fiscal package, is what fundamentally drove gold prices higher," IG Markets analyst Kyle Rodda said.