Gold prices continued to decline in the Asian session following the resurgence of US dollar trading as investors continued to look forward to the latest developments in the US fiscal stimulus package.
However, the precious metal still maintained its position above the $ 1,900 price level after declining 0.6% to $ 1,910 per ounce. Meanwhile, gold futures declined to $ 1,915 an ounce (12.20pm Malaysian time).
Earlier, it was reported that President Trump's proposal for a $ 1.8 trillion aid package has met with opposition from his party, which has refused to add to the country's debt as well as Democrats who want a bigger boost.
However, in the latest development, Republicans in the Senate are reported to be following what President Donald Trump wants in coronavirus assistance law, according to a White House spokesman.
This positive development, however, failed to support sentiment weakened by the recent tensions between the United States and China.
Beijing has vehemently opposed Washington's move to approve arms sales to Taiwan and threatened that it could damage bilateral relations.
However, uncertainty in market sentiment limited the volatility of gold trading and supported it to stay above the $ 1,900 ounce price level.
