Gold up Despite Stronger USD

23 October 2020

    Gold was up Friday morning in Asia despite a stronger US Dollar, following presidential debates between Donald Trump and Joe Biden.


    Additionally, House of Representatives speaker - Nancy Pelosi remained optimistic that progress was being made in talks with the White House on the subject of a new coronavirus aid package, but Larry Kudlow warned that there were still “significant policy differences” unlikely to be resolved before the election. Jobless claims fell to 787,000 for the past week, against the expected 860,000. 


    Some investors were bullish, with strong investor demand for gold to keep prices high and offset the possible fall in demand from jewellers and central banks in 2021, Refinitiv Metals Research commented. 


    Gold was as seen up 0.20% to $1,908.35 by 4:14 AM GMT. 

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