Gold at one-week high on weak dollar; ECB meet in focus (Reuters)

The ECB is all but certain to keep policy unchanged when it announces its decision, which will then be followed by a news conference by its President Christine Lagarde. Major central banks have rolled out unprecedented stimulus measures and kept interest rates low, driving gold to new highs because of its role as a hedge against inflation and currency debasement. “Ample money supply, lower interest rates and macro uncertainty should support gold investment,” ANZ analysts said in a note…

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Gold falls on firm dollar, vaccine delay limits losses (Reuters)

Investors now await the outcome of the European Central Bank’s policy meeting due on Thursday and the Bank of Canada’s policy meeting on Wednesday. “European countries do need some kind of economic help from the central bank, which would make the euro a little weaker compared to the dollar, but given the lingering uncertainties, that won’t cause much damage to gold’s shine,” said independent analyst Ross Norman. The COVID-19 pandemic has weighed heavily on economies worldwide, forcing…

Gold dips on dollar strength, cenbank meetings in focus (Reuters)

Investors now await the outcome of the European Central Bank’s policy meeting, due on Thursday. While no major policy moves are expected since it has acted aggressively to shore up the virus-hit economy, investors will watch out for its inflation forecasts. Gold is used as a hedge against inflation and currency debasement. The Bank of Canada’s policy meeting is also on Wednesday, while the U.S. Federal Reserve’s meeting is scheduled for next week. https://www.reuters.com/article…

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US budget deficit hits record $3 trillion: CBO

The CBO has estimated that the deficit for the full fiscal year ending this month will amount to $3.3 trillion, continuing to add to the nation's growing debt. By next year, the debt will exceed 100 percent of GDP for the first time since World War II, and will break its all-time record in the years after. https://thehill.com/policy/finance/515582-us-budget-deficit-hits-record-3-trillion-cbo