Gold fell during the Asian trading session today, Wednesday, and gave up its previous gains, as global markets awaited the minutes of the Federal Reserve meeting, the most important events scheduled on the global economic agenda today.
Gold futures fell 0.54% to trade at $ 2,002.30 an ounce, at the time of writing, at 12:43 AM ET (5:43 AM GMT), keeping the precious metal above the psychologically important $ 2,000 level.
Earlier in the session, the precious metal advanced, taking advantage of the weakening dollar, which saw heavy losses overnight. But the dollar’s small steps, which it took higher on Wednesday, caused investors’ alienation from gold.
As for the stock markets in the continent, they performed mixed, despite the rise to record levels in the US markets during the session that preceded the opening of the Asian markets in the hours.
Investor sentiment has improved slightly in light of the possibility of both sides of Congress finally reaching an agreement on a new stimulus package to support the US economy in the face of the Corona, as Republicans hope to reach an agreement with Democrats on a proposed package of $ 500 billion.
Although the number is far lower than the amount the Democrats are seeking, House Speaker Nancy Pelosi indicated on Tuesday that Democrats are willing to cut the stimulus amount they previously proposed in half to reach their counterparts’ agreement with the Republicans.
But Drew Hamill, Pelosi’s spokesman, came back at a later time to clarify what she had said. Hamill told reporters that by saying this, Pelosi was reiterating her previous position, her willingness to meet Republicans “halfway” and not “cut the amount in half.”
Investors are now awaiting the minutes of the Fed’s latest monetary policy meeting, which is dominating the economic agenda for Wednesday, which is scheduled to be released at 2:00 pm ET (21:00 KSA, 19:00 GMT), for research. For evidence of any potential changes to monetary policy that the bank may adopt in the near future