Weakening of the US Dollar Benefited the Gold

Weakening of the US Dollar Benefited the Gold Weakening of the US dollar benefited the gold. The dollar rate, which fell sharply yesterday, prepared the ground for gold earnings. The US House of Representatives' approval of the package containing $ 2,000 in cash aid to the citizen brought the increase in gold, while the US dollar lost value. While the dollar weakened after the US House of Representatives approved the package, household spending in the package increased by $ 464 billion. Although the developments regarding the coronavirus vaccine create an optimistic atmosphere, inflation and the weakening dollar are the main agenda of the market. Thanks to market actors who want to turn to safe havens, especially against the coronavirus mutation, gold is placing its first monthly earnings after July. The negative economic effects of the coronavirus epidemic and the packages offered on a global scale have made gold live the best times of the last 10 years. On the other hand, in a note shared by Philip Futures, the transaction volume remained low due to the Christmas holiday, but precious metal traders were based on the US dollar in the absence of other indicators. Gold prices showed an increase of 0.2 percent at 7:55 am and traded around 1878.20 dollars per ounce.