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Gold holds steady on US stimulus hopes, US jobs data in focus

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[BENGALURU] Gold prices were little changed on Thursday as renewed hopes for more US stimulus kept the bullion afloat, with investors eyeing the weekly jobless claims data to further gauge the health of the world's largest economy. Read more at The Business Times.

After shutting down negotiations over a new stimulus deal, Mr Trump wrote on Twitter that Congress should pass money for airlines, small businesses, and stimulus checks of US$1,200 for individuals.

Gold, seen as a hedge against inflation and currency debasement, has risen 24 per cent this year, supported by massive government and central bank stimulus worldwide. "What the US dollar does around investors' risk appetite is going to dictate what gold does," said ANZ analyst Daniel Hynes.

 

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