Gold prices drifted lower on Tuesday as the dollar firmed up against major currencies, rebounding from recent weak spell, after optimism about fiscal stimulus faded a bit this afternoon.

Still, it appears the continued spurge in coronavirus cases probably limited gold’s losses.

On the Covid-19 front, Johnson & Johnson said it had temporarily halted its Covid-19 vaccine trial due to an unexplained illness in a participant, raising uncertainty about the timing and effectiveness of a vaccine.

According to reports, coronavirus cases have surged in many parts of the world and several countries have reimposed social-distancing measures announced fresh lockdown restrictions to limit the spread of the virus disease.

The dollar index rose to 93.60 after moving just above the flat line during the European session. It was last seen at 93.54, up more than 0.5% from previous close.

Gold futures for December ended down $34.30 or about 1.8% at $1,894.60 an ounce, snapping a three-day winning streak.

Silver futures for December closed lower by $1.142 or 4.5% at $24.129 an ounce, while Copper futures for December settled at $3.0445 per pound, down $0.0195 or 0.6% from previous close.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.