KONTAN.CO.ID - TOKYO. Gold was set for a second weekly fall on Friday as promising COVID-19 vaccine trials and U.S. Treasury Secretary Steven Mnuchin's call to end the Federal Reserve's key pandemic lending programmes eroded bullion's safe-haven appeal. Friday (20/11) at 15.45 WIB, spot gold fell 0.1% to $1,866.19 per ounce and was down 1.1% for the week. U.S. gold futures were up 0.2% at $1,865.40. In a letter, Mnuchin told Fed Chairman Jerome Powell that $455 billion allocated to the Treasury under the CARES Act should be instead available for Congress to reallocate, sparking uncertainty about stimulus programmes.
Gold set to extend weekly fall on stimulus doubts, vaccine hopes
KONTAN.CO.ID - TOKYO. Gold was set for a second weekly fall on Friday as promising COVID-19 vaccine trials and U.S. Treasury Secretary Steven Mnuchin's call to end the Federal Reserve's key pandemic lending programmes eroded bullion's safe-haven appeal. Friday (20/11) at 15.45 WIB, spot gold fell 0.1% to $1,866.19 per ounce and was down 1.1% for the week. U.S. gold futures were up 0.2% at $1,865.40. In a letter, Mnuchin told Fed Chairman Jerome Powell that $455 billion allocated to the Treasury under the CARES Act should be instead available for Congress to reallocate, sparking uncertainty about stimulus programmes.