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Gold continues to fall on US dollar rally

25 Sep 2020 05:18 PM

Gold and silver have continued to fall during trading today, driven by the continued rally of the US dollar as Congress shows signs of finally agreeing a stimulus plan for the American economy. Improving economic data has contributed to this rise, in turn putting pressure on commodities and precious metals, especially gold.

Fed Chair Jerome Powell confirmed that up to $380 billion in the initial Covid aid package has not been used and could benefit the US economy greatly if lawmakers agree to it.

Gold has fallen in spot markets to $1858 an ounce.

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