Gold prices slip amid stocks rally

23.04.2020 - Davydova Maria
Gold prices slip amid stocks rally

Gold prices fell on Thursday in Asian markets after stocks rose on the back of recovering oil prices and hopes for additional fiscal stimuli.

Gold futures lost 0.30% to $1,733 per ounce by 11:02 PM ET (4:02 AM GMT).

Gold prices fell to a near 2-week low of $1,659.68 on Tuesday after oil futures plunged into negative territory for the first time the day before. However, oil prices later reclaimed its losses on Wednesday as it gained 1.9%.

A $484 billion stimulus package is expected to be passed by the U.S. House later in the day.

Investors still remain optimistic for gold with some expecting futures of the yellow metal to reach up to $1,800 in June.

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