Gold Climbs on U.S. Stimulus Outlook, Fed Bets, Virus Lockdowns
- Congressional leaders to meet Tuesday on Covid relief
- Traders anticipate Fed guidance on U.S. asset purchases
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Gold rose after the unveiling of a possible new U.S. spending package with traders anticipating fresh guidance on monetary policy from the Federal Reserve at its last meeting of the year.
Treasury Secretary Steven Mnuchin will call in to House Speaker Nancy Pelosi‘s meeting with other congressional leaders Tuesday afternoon to discuss Covid-19 relief and a crucial government spending package. A bipartisan group released a slimmed-down proposal for a $748 billion Covid-19 aid package that separated out the two most contentious and partisan issues.