On the 24th, light holiday trading rose slightly, boosted by the continued weakness of the dollar after the UK reached a trade deal with the European Union, but rising risk appetite limited the rise in gold prices.
In the US market, spot gold rose $9 from its low to $1877.72 an ounce, while silver rose 16 cents to $25.77 an ounce.
"the factors that have helped the gold market include the weakness of the dollar index in the past day or two after rising earlier this week," said Jim Wyckoff, senior analyst at Kitco Metals. "what limits gold's rise is the global stock market, which is still in rising mode, which is just sucking up money from precious metals as a safe haven."
Risk sentiment is optimistic, while the dollar is under pressure as investors opt for sterling as Britain reaches a Brexit trade deal with the European Union.
According to the British "Guardian", Sky News and other reports on the 24th, Britain's post-Brexit trade agreement has been reached.
This is an important milestone in the process of Brexit. Britain and Europe had hoped to announce the trade agreement on the 23rd, but EU member states still had doubts about the text of the agreement. The negotiations continued all night, and it is reported that the focus of the discussion is still on the issue of fishing rights.
Britain formally left the European Union on January 31 this year and entered an 11-month transition period ending on December 31. During the transition period, the UK is no longer a member of the EU, but remains in the EU single market and customs union and, like other member states, abides by all EU rules. If no trade agreement is reached before the end of the transition period, the two sides will trade under WTO rules, which will bring huge economic losses to both sides.
Us President Donald Trump has threatened not to sign a nearly $900 billion economic stimulus bill, but investors have largely ignored it.
House Speaker Nancy Pelosi said he would vote on an independence bill worth $2000 in cash next Monday.
"investors are optimistic about the financial and monetary support of governments around the world, although the vaccine weakens the power of the virus," said Giovanni Staunovo, an analyst at UBS. "
Concerns about the spread of a more contagious variant, novel coronavirus, have led to tighter restrictions in the UK, highlighting concerns about economic recovery after the pandemic.
In addition to Britain and South Africa, another variant of novel coronavirus may appear in Nigeria. John Kengesong, director of the African Centers for Disease Control and Prevention, said on Thursday that there appears to be another variation in Nigeria, novel coronavirus, which is different from that found in Britain and South Africa, according to the Associated Press.
According to the report, Kengesong told reporters on the same day that there seems to be another variation in Nigeria, novel coronavirus, but further investigation is needed. He added that this was a different variant from that found in Britain and South Africa.
Germany's first case of mutated novel coronavirus infection has been confirmed in Baden-W ü rttemberg, Germany, according to the Ministry of Health of Baden-W ü rttemberg on Thursday. The diagnosis was made by a woman who returned to Bafu from the United Kingdom via Frankfurt Airport on 20 December. At present, she is in home isolation.
Meanwhile, data released on Wednesday showed that initial jobless claims in the United States were still rising, but fell last week. Pelosi urged Trump to sign the stimulus package and spending bill.
Gold, seen as a hedge against inflation and currency depreciation, has risen more than 23 per cent this year with the help of massive stimulus measures.
