⁍ Spot gold fell 0.2% to $1,901.16 per ounce by 0335 GMT.
⁍ U.S. gold futures were down 0.3% at $1,905.20.
⁍ Pelosi hopes that by the end of Tuesday there will be ‘clarity’ on whether a coronavirus stimulus bill can be passed.
– With less than two weeks to go until the US elections, investors are keeping a close eye on the final presidential debate between Donald Trump and Joe Biden on Thursday as well as on Congress’ efforts to finalize an economic stimulus package, Reuters reports. House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin “continued to narrow their differences” over a new aid package in a telephone conversation on Tuesday, her spokesman said. Pelosi hopes that by the end of Tuesday there will be “clarity” on whether a coronavirus stimulus bill can be passed before the Nov. 3 elections, he wrote on Twitter. A massive stimulus from the Democrats could revive precious metals trading as they have been losing their mojo without additional stimulus, a senior commodities manager at Phillip Futures said in a note. Gold prices eased on Tuesday, trading in narrow a range, as caution set in ahead of the deadline to reach an agreement on a new US coronavirus stimulus package and the upcoming presidential election. Spot gold fell 0.2% to $1,901.16 per ounce by 0335 GMT. US gold futures were down 0.3% to $1,905.20. ‘A lot of investors are on the sidelines and also in particular because the (US) elections are coming up,’ Brian Lan, managing director at GoldSilver Central said, adding that a stimulus will make prices test the higher end of the $1,882-$1,932 range.
Source: https://www.reuters.com/article/global-precious/gold-inches-lower-on-caution-over-us-coronavirus-aid-idUSKBN2750GR