Gold holds steady after overnight gains amid weak Dollar

10.09.2020 - Petr Mazaylo
Gold holds steady after overnight gains amid weak Dollar

Gold remained mostly unchanged earlier on Thursday in Asia after it raked in substantial gains overnight amid a drop in the Dollar and stock market uncertainties.

Gold futures gained 0.06%, trading at $1,956 per ounce at 12:05 Am ET (05:05 AM GMT). The yellow metal rose from a low of $1,927.20 to an overnight high of $1,959.35, boosted by a significant jump in U.S. tech stocks.

Meanwhile, the Dollar took a dent after the European Central Bank (ECB) expressed confidence in the outlook of E.U.’s recovery from the COVID-19 pandemic. The ECB is expected to meet later in the day where the next policy move will be decided.

Gold, which is considered a safe haven asset, has seen record highs since the onset of the COVID-19 pandemic, with prices breaking past the $2,000 mark.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?