"Gold is rising as the dollar is under quite a bit of pressure. We also saw Steven Mnuchin indicating that they want some kind of fiscal stimulus deal done, so that would further weaken the dollar," said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.
The dollar .DXY fell 0.3% against rivals, bolstering gold's appeal for investors holding other currencies. USD/
U.S. Treasury Secretary Mnuchin said there still could be a deal with the U.S. Congress for more federal coronavirus-related aid. has risen 29% this year prompted by massive stimulus from global central banks to combat the impact of the coronavirus pandemic.
Investors are now eyeing the Fed's policy decision due on Wednesday.
https://au.investing.com/news/commodities-news/preciousgold-gains-1-on-dollar-weakness-dovish-fed-policy-hopes-2206869
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