Soft Dollar Makes Room For Gold to Gain – 30 September, 2020

A softer dollar and progress in U.S. stimulus negotiations made way for gold prices to edge higher. After falling to its lowest since 2016 in September, spot gold was up 0.3% to $1,891.10 per ounce. U.S. gold futures were 0.1% higher to $1,897.30 as the dollar index fell 0.2% against rivals, allowing foreign currency investors an in to the precious metal. A COVID-19 U.S. stimulus relief package is said to have made progress in recent discussions, while market participants await U.S. jobless claims data due later in the day and hope for clues about the progress of economic recovery.