Gold chalked up another record Tuesday as the dollar extended losses and traders rushed into safe havens as fears about the coronavirus pandemic ...
Focus will turn to Capitol Hill, where lawmakers will try to hammer out a new stimulus package to support the rattled US economy AFP/Eric BARADATHONG KONG: Gold chalked up another record on Tuesday with the dollar extending losses and traders rushing into safe havens as fears about the coronavirus pandemic mounted, while equity markets rose on hopes for a fresh US stimulus package and more Federal Reserve largesse.
US second-quarter economic growth data is also due this week, and a disappointing reading on what is expected to be a historic contraction could fuel further dollar weakness. However, there are concerns bipartisanship could make the passage of any bill arduous, with Democrats proposing $3.5 trillion of spending, while House Speaker Nancy Pelosi branded the Republican offer"pathetic" and not enough to support the country.Hong Kong and Shanghai both rose 0.9 percent, while Tokyo added 0.3 per cent and Sydney gained 0.6 per cent.
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