Gold holds steady as weaker dollar offsets upbeat risk sentiment

Spot gold traded at $1,912.49 per ounce by 0108 GMT. Prices hit $1,918.36 on Monday, a peak since Sept. 22.

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U.S. gold futures were little changed at $1,919.30.
Gold prices were steady on Tuesday, having hit a near-two week high in the previous session, as a softer dollar countered pressure from an upbeat risk sentiment.

FUNDAMENTALS

Spot gold traded at $1,912.49 per ounce by 0108 GMT. Prices hit $1,918.36 on Monday, a peak since Sept. 22.


U.S. gold futures were little changed at $1,919.30.

U.S. President Donald Trump returned to the White House on Monday after a three-night hospital stay where he was being treated for COVID-19.

Asia's stock markets edged higher on Trump's health update and prospects of a U.S. stimulus package, while the dollar index dipped 0.1% against rivals.

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U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke on the coronavirus economic relief and were preparing to talk again Tuesday, continuing their work towards a deal on legislation.

Chicago Federal Reserve Bank President Charles Evans said on Monday he expects U.S. inflation to reach 2% by 2023 and wants to push it to 2.5% to offset years of below-target price rises.

The euro zone's economic recovery faltered in September, with growing evidence that sectors and countries in the bloc are diverging as a resurgence of the novel coronavirus forces the reimposition of restrictions on activity.

Silver rose 0.1% to $24.37 per ounce, platinum inched 0.1% higher to $897.99, while palladium dipped 0.2% to $2,356.85.
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