Just came through on MQPrime:
0030 GMT [Dow Jones] Spot gold higher, rises on lower USD, firmer tone in equity market. Expected economic stimulus packages in U.S. after U.S. House Speaker Nancy Pelosi pushes for 2-step plan with as much as $100 billion this month followed by companion measure early next year that would include tax cut to prompt inflationary pressures, to benefit gold, says Commodity Broking Services managing director Jonathan Barratt. Economists urging Democratic congressional leaders to push much larger package of around $300 billion. China infrastructure spending plan of $586 billion over next 2 years positive for commodities, gold. Gold should find floor around current levels around $750/oz, if stays above $725 should rise to technical target at $870, says Barratt. Spot gold at $752.30, up $18.40 vs NY close. (EFB)
Add to My Watchlist
What is My Watchlist?