Gold Starts The New Week With a Rise

Gold Starts The New Week With a Rise Gold starts the new week with a rise. With the financial stimulus package deal and the increase in cases in the coronavirus epidemic, gold gained more than 1 percent. Gold prices soared and exceeded the $ 1,900 level due to the financial stimulus package deal in the US and the accelerated case increase in the coronavirus epidemic. British Prime Minister Boris Johnson lifted the permission for families to see each other during the holiday season due to information that the coronavirus has mutated. France and Germany also agreed with Italy's decision on stopping flights to England. In the US, leaders of the Senate and the House of Representatives reported that they agreed on a package designed to support an economy. However, the law is still in the process of being drafted and parliaments will not be able to vote until Monday. The Senate and the House of Representatives signed a one-day provisional government funding over the weekend to avoid a partial closure by federal agencies. Making a statement on the subject, Chinese broker company Huatai Futures said, “The global low interest rates and the harsh monetary expansion policies will not change easily. With the positive expectations against the fiscal stimulus package, the exit from the gold-based exchange traded funds will slow down and the markets will love gold again.” Gold prices rose by 1.115 percent to $ 1,902.93 an ounce at 08:46 UTC. Bloomberg Dollar Spot Index increased by 0.5 percent. Gold prices have risen by around 25 percent since the beginning of 2020. Silver traded at its highest level since September, gaining around 3.6 percent, while palladium and platinum also gained value.