Renewed hopes for the stimulus measures for the new coronavirus have supported the initial revival of gold prices from a five-month low to be expected to strengthen today.
The market welcomed the encouraging news of the United States administration after Majority Senate leader Mitch McConnell resumed a $ 1.4 trillion stimulus move on Tuesday.
That's not all, in fact, a group of US bipartisan lawyers are also proposing a plan for coronavirus aid worth an estimated $ 908 billion.
While it is still unclear whether these plans will be passed or not, the market is still hoping the stimulus will be launched to help support the US economy while awaiting the graduation of vaccine use.
Meanwhile, Setiausaha Treasury, Steven Mnuchin and the Head of the Federal Reserve (Fed), Jerome Powell, who gave a statement before the Senate, helped rush the base maker to immediately pass new stimulus assistance.
At the European session opening, gold was trading up at $ 1,814 an pound, while gold front trade was also steady at $ 1,818 per aun (3.50 pm Malaysia time).
