Gold closes up to $ 8.9, speculating the US to stimulate economy - Bond Yield falls to boost buying momentum

The New York gold futures closed overnight (8 Dec), boosted by hope that The US will accelerate economic stimulus measures to mitigate the effects of COVID-19. A drop in US bond yields will also be a factor to attract gold purchases.

COMEX (Commodity Exchange) gold  slotxo contract for February delivery Increased 8.9 dollars, or 0.48 percent, to 1,874.9 dollars / ounce. Which is the highest closing level since Nov. 17 this year

Silver metal contract for March delivery It was down 5.8 cents, or 0.23 percent, to 24.736 dollars an ounce.

Platinum contract delivered in Jan. It was down $ 12.4, or 1.18 percent, to $ 1,037 an ounce.

Palladium contract delivered in March. It was down $ 23.40, or 1%, to $ 2,327.90 an ounce.

The gold contract closed in positive territory for the second consecutive day, responding to the hope that US Congress will accelerate economic stimulus measures to cure businesses and people affected by the COVID-19 outbreak.

U.S. House of Representatives Seni Hoyer said the House of Representatives would vote on a temporary budget bill to avoid a one-week shutdown of government agencies. On this day And to give MPs more time to negotiate a deal to issue a $ 9.08 billion stimulus package to mitigate the effects of the COVID-19 epidemic.

U.S. House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell Express hope that Congress will be able to reach an agreement on stimulus and provisional budget legislation by Dec. 11, the last day before U.S. government agencies face a shutdown.