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Gulf Today Report
Gold advance on Monday as the prospect for a US monetary stimulus to aid the economy outweighs hope for a COVID-19 vaccine being made available next month.
Spot gold rose 0.2% to $1,873.51 per ounce by 05:10 GMT and US gold futures were little changed at $1,871.70.
US Treasury Secretary Steven Mnuchin on Friday said the Fed and Treasury have a lot of tools left to aid the economy.
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According to Michael McCarthy, chief strategist at CMC Markets, the lack of a fiscal package being injected into the economy is good for gold.
Wang Tao, a technical analyst said, from the technical front, gold may retest support at $1,855 per ounce, a break below which could cause a fall to $1,841.
Silver firmed 0.5% to $24.25 an ounce. Platinum rose 0.1% to $946.43, while palladium gained 0.6% to $2,339.56.
Spot gold was steady at $1,772.14 per ounce by 0703 GMT, just $6.92 shy of a near eight-year high of $1,779.06 hit last week. U.S. gold futures rose 0.3% to $1,787.30. Bullion, with quarterly gains of more than 12%.
Spot gold hit its highest since early October 2012 at $1,788.96 in early trade, and by 0958 GMT was at $1,787.31 per ounce, up 0.4%. U.S. gold futures were up 0.3% at $1,805.10 per ounce.
Spot Gold rose 0.2% to $1,945.56 per ounce by 0918 GMT. US Gold futures rose 0.3% to $1,954.20 per ounce.
Spot gold fell 0.3% to $1,853.85 per ounce by 928 GMT. US gold futures were down 0.5% at $1,856.40.
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Oil prices rose more than $1 per barrel on Thursday after Saudi Energy Minister Prince Abdulaziz bin Salman urged caution and vigilance at the beginning of a meeting of Opec ministers and their allies about the future of supply cuts.
The United States agreed a four-month suspension of retaliatory tariffs imposed on British goods over a long-running aircraft subsidy row, with both sides pledging to use the time to resolve the dispute.