Gold goes up in price as the dollar depreciates
Gold prices on Thursday morning show growth - at the time of writing the article, the cost of a troy ounce on the Comex exchange rose by 0.21% to $ 1835, 90. Positive dynamics is promoted by weakening of the dollar, which is declining amid the players' hopes for new stimulus measures for the American economy. Optimism of market participants is supported by negotiations on a new support package worth $908 billion, presented by senators of the Republican and Democratic parties. In the opinion of Michael Langford, executive director of Airguide consulting company, these negotiations will contribute to the reduction of the U.S. currency rate in the short term and thereby, increase in gold prices. Cheaper dollar allows investors using foreign currency to buy more precious metal. Players resort to gold in order to protect against inflation, which may rise after the emergence of new economic incentives.