Gold Price News and Forecast: XAU/USD eyes monthly top near $1,907 as Trump signs covid aid package
|Gold Price Analysis: XAU/USD nears $1,900 hurdle as President Trump signs coronavirus stimulus bill
Gold, widely touted as a hedge against inflation and currency devaluation, is cheering the US President Trump's decision to sign the critical coronavirus relief and spending package.
The package includes direct payments to qualifying Americans worth up to $600 per adult and child, a boost in weekly unemployment benefits, and funds for small-business aid and vaccine distribution, according to nrp.org.
Gold Price Analysis: XAU/USD eyes monthly top near $1,907 as Trump signs covid aid package – Confluence Detector
Gold prices stay positive near a one-week high, currently up 0.80% while easing from the intraday high of $1,900.35 to $1,895, during early Monday. In doing so, the yellow metal extends the last Wednesday’s recovery moves from $1,859 toward the monthly top as the market’s sentiment improve on US President Donald Trump’s signing of the coronavirus (COVID-19) aid package.
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