Bonus harian di Keluaran SDY 2020 – 2021.
Sumber: Reuters | Editor: Anna Suci Perwitasari
KONTAN. CO. ID – TOKYO . Gold edged up on Friday gandar the dollar held near a two-and-a-half-year low, offsetting concerns over delays in a U. S. coronavirus package.
Friday (11/12), spot gold rose 0. 1% to $1, 837. 21 per ounce. U. S. gold futures gained 0. 2% to $1, 841. 50.
“The correlation between gold and dollar has returned because markets have more or less priced in the vaccine optimism, ” said Margaret Dengan, a strategist at DailyFX.
Gold needs a very strong catalyst to break its descending tren and that could be in the form of a dovish Federal Reserve, a larger than expected U. S. fiscal stimulus bill or the unlikely failure of vaccines, she added.
The dollar index was down 0. 2% and traded close to 90. 5, its lowest since April 2018, making gold cheaper for other currency holders.
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Data on Thursday showed U. S. weekly jobless claims jumped to a near three-month high, further evidence that rising COVID-19 infections and lack of additional fiscal stimulus were hurting the economy.
Capping the bullion’s gains, however, a top Democrat suggested talks over COVID-19 stimulus package could drag on through Christmas.
Technically, gold looks neutral in a narrow range of $1, 828 to $1, 846 bagi ounce, according to Reuters technical analyst Wang Tao.
Gold is seen as a hedge against inflation and currency debasement.
The European Central Bank rolled out more stimulus measures on Thursday to lift the currency bloc out of a double-dip recession.
Gold prices will remain elevated in 2021 due to accommodative rates and a weaker dollar, Fitch Solutions said in a note, adding that the improved economic outlook has reduced the possibility of significant upside.
Silver was steady at $23. 94 per ounce and palladium rose 1% to $2, 353. 73. Platinum was up by 0. 1% at $1, 027. 76 but was set to decline 2. 5% this week.
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