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Gold eases as vaccine roll out counters US stimulus optimism

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Dec 14:
Gold eased on Monday because the roll out of coronavirus vaccines within the United States lifted danger sentiment, offsetting assist from hopes for extra U.S. financial stimulus and a weaker greenback.


* Spot
gold fell 0.2% to $1,834.94 per ounce by 0053 GMT, whereas U.S.
gold futures eased 0.2% to $1,840.70.

* The first shipments of COVID-19 vaccine started on Sunday, after a U.S. regulator authorised Pfizer Inc and BioNTech SE ‘s vaccine.

* The textual content of a $908 billion bipartisan COVID-19 reduction plan is ready to be launched as early as Monday and will probably be cut up into two packages in a bid to win approval, an individual briefed on the matter stated.

* The U.S. greenback shed 0.2% forward of the U.S. Federal Reserve’s two-day assembly beginning on Tuesday, the place policymakers are anticipated to extend purchases of longer-dated Treasuries to include an increase in yields.

Gold is seen as a hedge towards inflation and forex debasement.

* London and Brussels agreed on Sunday to “go the extra mile” in coming days to attempt to attain a commerce settlement, whilst British Prime Minister Boris Johnson stated each events had been very far aside on key points and no deal Brexit was a chance.

* Holdings in SPDR’s
Gold Trust , the world’s largest
gold-backed exchange-traded fund, fell 0.32% to 1,175.99 tonnes on Friday from 1,179.78 tonnes on Thursday.

* Hedge funds and cash managers raised their bullish positions in COMEX
gold and silver contracts within the week to Dec. 8, the U.S. Commodity Futures Trading Commission (CFTC) stated on Friday.

* Silver was little modified at $23.90 an oz., whereas platinum gained 0.6% to $1,015.03 and palladium rose 0.4% to $2,327.57.

DATA AHEAD(GMT) 0630 India Nov. WPI Inflation 1000 EU Oct. Industrial Production

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