Gold hits over one-week low as dollar gains ground

“In the near-term, there seems to be a lack of impetus to find extra buyers (for gold)… A lot of it is because we’re trading in the looming shadow of the U.S. elections and stimulus speculation,” said IG Markets analyst Kyle Rodda. U.S. House Speaker Nancy Pelosi on Sunday said the Trump administration was reviewing the latest plan for more COVID-19 relief and that she expected a response on Monday. With the November presidential elections fast approaching, analysts say a victory for Democrat rival Joe Biden could help gold rally on the back of a potential large stimulus …read more

Source:: Yahoo Finance