The price of gold was in the elevator on Tuesday, after the American House of Commons agreed to president Donald Trump’s demand to increase the value of the American stimulus from $ 600 to $ 2000 from the farewell package.
The Democrats-dominated House of Representatives voted in favour of the proposal by 275 votes to 134. The Senate must also vote on the plan. But there the Republicans are in the majority and it is still unclear whether there is sufficient support.
The House’s approval put some pressure on the dollar. As a result of the higher aid cheque, the operating expenditure account in the United States is increased by USD 464 billion.
Gold has been on the rise in the last few days, as optimism about vaccines has replaced concerns about inflation and a weaker dollar. In the event of economic disruption, so-called safe havens, such as gold, are often sought. The gold price was USD 1,877 per troy ounce (31.1 grams) in the Asian trading session.
By the way, the price of silver went down, after Monday the highest level since September was put on the plates. Other metals such as platinum and palladium increased in value.