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Bullion Gains As Greenback Recedes

GOLD

The yellow metal moved higher in Asia on Wednesday, but is still just below yesterday's high of 1886.52, last up $6.20 at 1884.35.

  • Optimism re: approval of the U.S. House for increasing stimulus checks was moderated by Senate Majority Leader McConnell's objection to a motion to pass the bill unanimously. It now seems unlikely the Senate will have chance to consider the deal before Congress adjourns Sunday. Attention will now turn to Senate elections in Georgia on Jan. 5.
  • Gold is on track is for its best annual gain in 10 years as the U.S. dollar declines. The yellow metal is up over 25% for the year, while DXY languishes at the lowest levels since 2018.
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