Gold and Silver Updates


 (Updates costs)
    * Silver touches a greater than 3-month peak
    * Greenback hits over one-week excessive, off multi-year lows
    * Interactive graphic monitoring international unfold of coronavirus:

    By Shreyansi Singh
    Dec 21 (Reuters) - Gold edged down on Monday as fears of a
new coronavirus pressure roiled markets and traders opted for
the greenback, whereas the metallic gained some help from a U.S.
stimulus bundle.
    Spot gold        fell 0.2% to $1,877.83 per ounce by 1:44
p.m. EST (1844 GMT), having earlier hit its highest since Nov. 9
at $1,906.46. U.S. gold futures        settled down 0.3% at
    "Gold market merchants typically are wanting on the Senate in
the U.S. and it's a foregone conclusion that this stimulus deal
that went by final evening goes to go this afternoon,"
stated Bob Haberkorn, senior market strategist at RJO Futures.
    "Gold will commerce larger because the week goes on, however at the moment I
assume merchants are getting their heads across the UK pressure." 
    Bullion had jumped greater than 1% earlier within the session,
helped by stories that U.S. congressional leaders reached
settlement on a $900 billion bundle.                          
    Nevertheless it later fell as a lot as 1.3% because the greenback index       
rebounded off multi-year lows to an over one-week excessive as fears
of a extremely infectious new coronavirus pressure dragged the pound
and euro down.                     
    Information of the pressure additionally dented threat sentiment, resulting in a
stoop in European equities and Wall Road's fundamental indexes. 
    Gold, thought-about a hedge in opposition to inflation, has risen about
24% this yr amid the large stimulus unleashed globally.
    "At present's value motion for gold reminded merchants of the panic
promoting that occurred in March.  The prospects of extra stimulus
have been driving gold larger, however at the moment's short-term greenback
surge is disrupting that thesis," Edward Moya, senior market
analyst at OANDA, stated in a notice.
    "Gold's bullish pattern continues to be intact however might nonetheless be
weak if the greenback comeback lasts a few days."
    In different metals, silver        rose 1.5% to $26.16 an oz.,
having hit its highest since Sept. 16 at $27.38 earlier. 
    Palladium        fell 2.2% to $2,309.77 and platinum       
dropped 2.3% to $1,012.39.

 (Reporting by Shreyansi Singh in Bengaluru;
Enhancing by Alexander Smith and Andrea Ricci)


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