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(Updates costs) * Greenback slips to multi-year lows * Platinum hits highest stage since August 2016 * Silver hits over three-month peak * Silver set to shine in 2021 * Interactive graphic monitoring world unfold of coronavirus: tmsnrt.rs/3mvcUoa By Shreyansi Singh Jan 4 (Reuters) - Gold costs rose greater than 2% on Monday to their highest stage in almost two months, bolstered by the greenback's slide forward of runoff elections for each U.S. Senate seats from Georgia. Spot gold was up 2.4% at $1,943.13 an oz by 2 p.m. EST (1900 GMT). The session excessive of $1,944.11 was its highest mark since Nov. 9. U.S. gold futures settled up 2.7% at $1,946.60. "There's the probability that we'll see important stimulus, which can result in additional declines within the greenback," stated Jeffrey Sica, founding father of Circle Squared Various Investments. The greenback index slid to a 2-1/2 12 months low, making bullion cheaper for holders of different currencies. Traders have been watching Tuesday's run-off elections in Georgia, which can resolve which get together controls the U.S. Senate. "The Senate election this week might grow to be a serious disruptive occasion so gold is rallying on that," Sica added. If President-elect Joe Biden's Democrats achieve management of each homes of the U.S. Congress, his administration would discover it simpler to push insurance policies reminiscent of rewriting the tax code to boosting stimulus and infrastructure spending. Many traders view non-yielding bullion as a hedge towards inflation and foreign money debasement that they concern might outcome from massive stimulus measures. More durable lockdown restrictions are anticipated in Britain and Japan, as COVID-19 circumstances mount. The coronavirus variant in South Africa is prone to have an impression on valuable metals costs, stated StoneX analyst Rhona O'Connell. "The ban on flights out of South Africa goes to hit valuable metals exports - definitely gold, platinum and palladium ... that are transported by air, and the vast majority of that's on passenger flights," she stated. Platinum eased 0.4% to $1,063.87 after hitting its highest stage since August 2016 at $1,127.82. Silver gained 3.1% to $27.17 an oz, touching its highest value since Sept. 15, 2020, earlier, whereas palladium dipped by 3.1% to $2,372.92. (Reporting by Shreyansi Singh and Asha Sista in Bengaluru Modifying by David Gregorio and Matthew Lewis)
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