Gold prices remained below the key psychological level of $ 1,900 / ounce on Wednesday, as the lack of an agreement on additional fiscal stimulus in the United States helped the dollar hold its ground.
FOUNDATIONS
Spot gold was little changed at $ 1,892.80 an ounce at 0053 GMT, after falling 1.6% in the previous session.
US gold futures were flat at $ 1,896.60.
The dollar index held steady after rebounding from a three-week low on Tuesday.
Hopes for a new coronavirus aid package were dashed when the Speaker of the US House of Representatives, Nancy Pelosi, rejected a $ 1.8 trillion proposal from the White House, saying it 'falls significantly short of what this pandemic and deep recession demands ”.
World financial leaders said Tuesday that the global economy had so far escaped a collapse triggered by the coronavirus, but warned that failing to conquer the pandemic, maintain the stimulus and address mounting debt among poor nations could crush a fragile recovery.
Expectations for a COVID-19 vaccine took a backseat after Johnson & Johnson and Eli Lilly and Co stopped vaccine trials.
Asian stocks were expected to slide on Wednesday as vaccine trials were halted and an elusive US stimulus deal weighed on investor sentiment.
U.S. consumer prices rose for the fourth month in a row in September, with the cost of cars and trucks rising for the most part since 1969, but inflation is slowing amid excess capacity in the economy as gradually recovering from the COVID-19 recession.
Silver was up 0.2% at $ 24.22 an ounce, platinum was up 0.5% at $ 869.05 and palladium was up 0.6% at $ 2,329.97.
