empty
08.10.2020 04:48 PM
Gold maintains positive trend amid partial agreement on US stimulus package

This image is no longer relevant

The price of gold demonstrates positive dynamics Thursday morning in light of a partial agreement by the US government on the fiscal stimulus in the country. Meanwhile, market participants have shifted their attention to the unemployment claims report for the week from the US Department of Labor.

The price of gold increased by 0.23%, which allowed it to move to the level of $1,891. 61 per troy ounce. Support for the precious metal was in the area of $1,877. 1 per troy ounce and resistance went to the level of $1,927 per troy ounce.

An early solution to the problem of the financial stimulus in the US, as well as a possible victory for Joe Biden, who, according to the latest data, is leading the race for the presidency, give gold the proper level of support. The market attributes the acceleration of inflationary risks to the leadership of Trump's main rival. And the safe haven of precious metals becomes constant protection for investors.

Meanwhile, there was some excitement on the US stock markets against the background of Trump's appeal to the government to quickly adopt the necessary agreements to start incentive payments to citizens of the country.

However, further dynamics in the precious metal market will still depend on the data on the number of new unemployment claims in the US. Experts suggest that the number of applications should be reduced, but numerous external factors suggest the opposite. Nevertheless, about 10 million American citizens have already received this payment.

The price of silver moved up by 0.66% which left the current price is $ 24 per troy ounce.

Palladium also went up by 0.19%, which allowed it to move to the area of $ 2,354.83 per ounce.

Platinum slightly rose 0.04% leaving the price at the level of $ 864.46 per ounce.

Copper futures for December delivery fell 0.25% allowing the price to drop at $3.0223 per pound.

Maria Shablon,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

US Market News Digest for April 11

After Wednesday's explosive rally triggered by President Donald Trump's announcement of a 90-day tariff pause, US markets on Thursday decided the party was premature. Major indices tumbled: the Dow dropped

Natalia Andreeva 15:28 2025-04-11 UTC+2

Rollercoaster: S&P 500 down 3%, gold hits all-time highs

US stocks fall after Wednesday's events, S&P 500 down 3% European and Asian stocks close higher after Trump suspends most tariffs Bond market rally stabilizes, gold prices hit all-time highs

Thomas Frank 09:44 2025-04-11 UTC+2

Bitcoin struggles to find support as tariff turmoil roils global markets

The flagship cryptocurrency remains in a fragmented state, unable to establish a firm footing. Bitcoin is experiencing significant volatility and posted losses this week. Nevertheless, experts remain optimistic, anticipating

Larisa Kolesnikova 14:38 2025-04-10 UTC+2

US Market News Digest for April 10

The S&P 500 index notched one of its biggest one-day gains in recent months. The upward move slowed near 5,516, but a break above key resistance at 5,669.50 could open

Irina Maksimova 12:58 2025-04-10 UTC+2

Why are stocks rising as yuan sags and U.S. futures slip?

The financial world breathed a sigh of relief on Thursday as stock markets surged higher and the chaotic bond selloff finally slowed down. The reason was a surprise initiative

Thomas Frank 10:17 2025-04-10 UTC+2

US Market News Digest for April 9

US stock indices closed lower after the White House announced a new wave of tariffs on Chinese goods. The rate could rise to 104%, a direct hit on imports

Irina Maksimova 12:33 2025-04-09 UTC+2

Domino effect: US tariffs slam markets, investors dump dollar, bonds

Trump's China tariffs spark recession fears US Treasuries and dollar hit by sell-off, yields soar European stocks fall as US retaliatory tariffs take effect World markets face crisis-era volatility, stocks

Thomas Frank 11:20 2025-04-09 UTC+2

"Golden" Forecasts: Gold at $3,500, $3,700 – Higher and Higher?

Gold forecasts are becoming increasingly dazzling in every sense, as analysts appear to be competing with one another over how high the precious metal could go. Rising geopolitical instability

Larisa Kolesnikova 11:07 2025-04-09 UTC+2

Markets on roller coaster: Dow plummets, gold rallying, Trump keeps investors on edge

The changes in Wall Street indices for the last 24 hours: the S&P 500 fell by 0.23%, the Nasdaq rose by 0.10%, and the Dow dropped by 0.91%. The S&P

12:25 2025-04-08 UTC+2

US Market News Digest for April 8

The Trump administration's latest wave of tariffs is reshaping economic expectations. Goldman Sachs is now forecasting a recession within the next 12 months, while JPMorgan analysts are pricing

Ekaterina Kiseleva 12:14 2025-04-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.