Gold Firms As Rising COVID-19 Cases Boost Stimulus Hopes

Gold prices hit a two-week high on Tuesday, as investors remained hopeful of further U.S. stimulus measures to counter the economic fallout of a surge in coronavirus cases.
Spot gold rose 0.2% to $1,867.66 per ounce by 0314 GMT.
Gold is seen as a hedge against inflation that could result from large stimulus.
Technically, gold remains in an overall bearish trend in the medium term, said Margaret Yang, a strategist at DailyFX.
Since the current stimulus package remains below market expectations, it may not drive prices further going forward, she said.

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