News on Trump's Health Condition Reduced Gold Prices

News on Trump's Health Condition Reduced Gold Prices News on US President Donald Trump's health condition has reduced gold prices. Gold prices have moved down after the news that Trump, who is receiving coronavirus treatment, will be discharged on Monday. US President Donald Trump recently announced that he had coronavirus, and then began to be treated in the hospital. With the news that Trump's health is improving, attention turned to negotiations on the stimulus package after poor employment data in the US. Therefore, a downward movement occurred in gold prices. Doctors announced on Sunday that US President Donald Trump is in fine condition and could leave the hospital on Monday. However, new information about the President's treatment has raised concerns that the situation could be more serious than announced. On the other hand, Trump left the hospital and greeted his supporters to show that he was in good health. He then returned to Walter Reed National Military Medical Center, where he was treated. On the side of the incentive package, which is expected to be announced in order to get rid of the effects of the coronavirus, Trump stated that an agreement should be reached in a statement made on his Twitter account. Speaker of the House of Representatives Nancy Pelosi was optimistic about the deal on Friday and emphasized the seriousness of the outbreak, stating that US President Donald Trump's capture of the coronavirus could change the tone of the talks. Non-farm payroll data for September, released on Friday in the country, pointed out that recovery will be even more difficult if no vaccines are found or new incentives are not introduced. Spot gold fell 0.4 percent to $ 1,892.67 an ounce at 07:30 London time after gaining 2.1 percent last week. Among other precious metals, spot silver rose 0.3 percent to $ 23.7997 an ounce, while platinum and palladium lost 0.3 percent. The Bloomberg Dollar Spot Index, which shows the course of the US dollar against 10 important currencies, lost 0.2 percent. "There was conflicting news from the White House and the medical team about the President's health. In general, it can be concluded that the President is recovering and will return to office as soon as possible," said Avtar Sandu, senior commodity manager for Phillip Futures, Singapore and added “In the United States, with the failure of lawmakers to agree on the new pandemic stimulus package, investors have shifted their preferences to dollars and bonds rather than precious metals."