Gold Dips For First Time In Weeks – 15 October, 2020

Gold is on the path to post its first weekly decline in three weeks, slipping as the dollar firms with the possibility of a U.S. stimulus ahead of the presidential election in November diminishing. Spot gold dipped 0.1% to $1,906.80 per ounce after falling 1.2% this week. U.S. gold futures rose 0.2% to $1,912.20. The dollar index was on track for its first weekly gain in three weeks, pushed by the surge in positive COVID-19 cases and lack of progress towards U.S. stimulus. Gold has risen almost 26% this year as central banks and governments redistribute funds to help their economies.