AGL 7.17 Increased By ▲ 0.14 (1.99%)
ANL 10.69 Decreased By ▼ -0.06 (-0.56%)
AVN 76.90 Decreased By ▼ -0.40 (-0.52%)
BOP 5.54 Increased By ▲ 0.05 (0.91%)
CNERGY 5.28 Increased By ▲ 0.02 (0.38%)
EFERT 88.70 Increased By ▲ 0.20 (0.23%)
EPCL 74.94 Increased By ▲ 0.04 (0.05%)
FCCL 14.00 Increased By ▲ 0.35 (2.56%)
FFL 6.67 Increased By ▲ 0.05 (0.76%)
FLYNG 7.18 Decreased By ▼ -0.01 (-0.14%)
GGGL 10.94 Increased By ▲ 0.04 (0.37%)
GGL 16.60 Increased By ▲ 0.08 (0.48%)
GTECH 8.70 Increased By ▲ 0.01 (0.12%)
HUMNL 7.03 Increased By ▲ 0.09 (1.3%)
KEL 2.82 Decreased By ▼ -0.04 (-1.4%)
LOTCHEM 25.61 Increased By ▲ 0.36 (1.43%)
MLCF 26.10 Increased By ▲ 0.31 (1.2%)
OGDC 80.60 Increased By ▲ 3.20 (4.13%)
PAEL 15.60 Decreased By ▼ -0.02 (-0.13%)
PIBTL 5.94 Decreased By ▼ -0.04 (-0.67%)
PRL 17.05 Decreased By ▼ -0.14 (-0.81%)
SILK 1.25 Decreased By ▼ -0.01 (-0.79%)
TELE 10.83 Increased By ▲ 0.08 (0.74%)
TPL 9.12 Increased By ▲ 0.02 (0.22%)
TPLP 19.70 Decreased By ▼ -0.15 (-0.76%)
TREET 28.75 Decreased By ▼ -0.03 (-0.1%)
TRG 77.80 Increased By ▲ 0.79 (1.03%)
UNITY 19.93 Decreased By ▼ -0.01 (-0.05%)
WAVES 12.68 Increased By ▲ 0.03 (0.24%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 4,095 Increased By 22.8 (0.56%)
BR30 15,044 Increased By 154.2 (1.04%)
KSE100 41,315 Increased By 155.4 (0.38%)
KSE30 15,737 Increased By 76.7 (0.49%)
Markets

Gold inches lower on firmer dollar, US stimulus worries

  • The US Federal Reserve's two-day policy meeting is scheduled to begin later in the day.
26 Jan, 2021

Gold prices eased on Tuesday, as a stronger dollar and concerns about the size of US coronavirus relief package dented the metal's appeal.

FUNDAMENTALS

Spot gold was down 0.1% to $1,853.99 per ounce by 0054 GMT. US gold futures eased 0.1% to $1,852.90.

The dollar firmed against an index of rivals, making gold expensive for holders of other currencies.

US President Joe Biden's $1.9 trillion pandemic relief proposal has been met with objections from Republicans, who have called the proposal too expensive and pushed for a smaller plan targeting vaccine distribution.

Gold is considered a hedge against inflation, likely from widespread stimulus.

Janet Yellen won overwhelming Senate confirmation as the first female US Treasury secretary on Monday and will play a key role in working with Congress on Biden's coronavirus stimulus plans.

The US Federal Reserve's two-day policy meeting is scheduled to begin later in the day.

Moderna Inc said on Monday it believes its COVID-19 vaccine protects against new variants found in Britain and South Africa, as global coronavirus cases rose to more than 99 million.

The US House of Representatives on Monday delivered to the Senate a charge accusing former President Donald Trump with inciting insurrection in a speech to his supporters before the deadly attack on the Capitol.

Silver was flat at $25.30 an ounce, platinum lost 0.6% to $1,091.40, and palladium fell 0.3% to $2,327.16.

Comments

Comments are closed.