Gold Dips on Mnuchin Comments, Bitcoin Surges – 19 November, 2020

A call for an end to some of the Federal Reserves pandemic lending certain businesses by U.S. Treasury Secretary Steven Mnuchin caused oil prices to dip. Spot gold fell 0.2% to $1,864.54 per ounce, on track for a second week of declines. U.S. gold futures were0.1% higher at $1,863.80. Gold has gained 23% this year, mostly due to uncertainty over stimulus measures meant to play a key role in reassuring financial markets. Elsewhere, Bitcoin was up 1.2% to $18,004, just below an all-time high of almost $20,000 three years ago.