During the Asian session, spot gold fell slightly, trading above 1880; on Thursday (December 17) the price of gold rose by more than 1% to a one-month high, closing at $1,885.42 per ounce, as the market expected more new crowns. The rescue measures and the Federal Reserve’s commitment to inject more funds into the economy and maintain low interest rates have caused the dollar to fall.
The US fiscal bailout bill is about to be introduced, and the impact of the Federal Reserve’s resolution continues to push up the price of gold. In addition, a series of recent US economic data have shown signs of weakness, and gold is only one step away from facing the 1900 mark. However, investors should note that the United States approved the request for the Moderna vaccine on Thursday, and the market needs to be wary of the vaccine’s anti-gold blow. Gold prices may continue to remain strong in the short-term, but there is a big doubt about whether it can break 1900 today. Short-term investors can choose to wait and see for the time being and spend the weekend with short positions.