Gold Futures Settle Notably Lower
Gold prices were lower on Wednesday as U.S. stocks rallied, reacting to U.S. President Donald Trump’s tweet that he would support aid to airlines and small businesses, and support another round of stimulus checks for Americans.
Stocks had tumbled in the previous session after Trump halted negotiations over a new coronavirus relief plan.
The dollar stayed weak, and this probably limited gold’s slide. The dollar index, which slipped to 93.56, was last seen at 93.64, down 0.05% from previous close.
Gold futures for December ended down $18.00 or nearly 1% at $1,890.80 about a couple of hours past noon.
Silver futures for December ended down $0.025 at $23.896 an ounce, while Copper futures for December settled at $3.0330 per pound, up $0.0695 from previous close.