KONTAN.CO.ID - JAKARTA. Gold prices dipped on Monday, as White House suggestions that U.S. President Donald Trump was "responding well" to COVID-19 treatment propped up sentiment globally, while pulling money out of the traditional security of bullion. Spot gold fell 0.5% to $1,889.56 per ounce by 0743 GMT. U.S. gold futures were down 0.8% at $1,892.80. Positive reports on President Trump's health is helping sentiment while pressuring gold, said Harshal Barot, senior research consultant for South Asia at Metals Focus, adding that overall political uncertainty still exists in the run-up to the U.S. elections.
"$1,850-$1,860 level remains a strong support level for gold... We need a break above $1,940 for any convincing rally to begin again." Doctors treating Trump for COVID-19 said his health is improving and he could be sent back to the White House as soon as Monday. However, outside experts warn that Trump's case may be severe. Read Also: Indonesia says in early talks with Tesla on potential investment The dollar index was down 0.1% against rivals, while stock markets rose on Trump's health update. Investors also eyed negotiations over a new U.S. coronavirus relief aid aimed to cushion the economic blow from the pandemic.
