Gold Holds Steady On Trump Health Update

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Gold prices held largely steady on Monday as investors sought more clarity on the health of U.S. President Donald Trump and the stimulus talks to support the U.S. economic recovery.

Spot gold held steady at $1,898.59 per ounce, while U.S. gold futures were down 0.2 percent at $1,903.10.

Risk sentiment improvement somewhat after Trump’s medical team suggested that he could be discharged from the hospital as early as today.

“It’s been a very interesting journey. I learned a lot about COVID,” Trump said, standing in his hospital room in a video posted on social media. “I learned it by really going to school.” He added, “I get it, and I understand it.”

Meanwhile, investors are pinning hopes that America will pass a new stimulus bill sooner rather than later. Trump tweeted over the weekend that the U.S. “wants and needs stimulus”.

House Speaker Nancy Pelosi told CBS in an interview that progress was being made on coronavirus relief legislation to respond to the economic fallout from the coronavirus pandemic.

Separately, Politico reported that Treasury Secretary Steven Mnuchin and Pelosi consulted Federal Reserve Chair Jerome Powell about their stimulus plan talks.

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