⁍ Spot gold was down 0.4% at $1,869.94 per ounce by 11:57 a.m. EDT (1557 GMT)
Earlier slipped to its lowest since Sept. 28 at $1,858.92.

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⁍ President Donald Trump’s chief economic adviser said on Thursday that any deal on coronavirus relief legislation would have to wait for now.

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– Gold prices dropped to one-month lows on Thursday, hurt by a stronger dollar and lack of clarity on a US stimulus agreement, while concerns over a spike in COVID-19 cases and uncertainty ahead of US elections limited losses. Spot gold was down 0.4% at $1,869.94 per ounce by 11:57am EDT, having earlier slipped to its lowest since Sept. 28 at $1,858.92. US gold futures fell 0.5% to $1,869.90. “The downturn we are seeing in gold prices is because there is a short-term concern about timing of the stimulus getting approved,’ said Jeffrey Sica, founder of Circle Squared Alternative Investments, adding “a strengthening US dollar is impacting gold.” The dollar rose 0.7% to a near two-week high against its rivals, making gold more expensive for holders of other currencies, reports Reuters. Denting gold’s appeal, the dollar index rose 0.7% to a near two-week high against its rivals, making gold more expensive for holders of other currencies. “Gold is now at levels where people could accumulate considering the chaos around the election, concerns about economic recovery and the coronavirus situation,” said Sica. “The trend for gold is still bullish.”