Gold hits 2-week high

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Thu, 2021-01-21 11:10

Gold rose on Thursday to its highest in nearly two weeks as the U.S. dollar eased on hopes of further stimulus under President Joe Biden’s administration, although some profit booking checked the metal’s gains.

Spot gold was up 0.1 percent at $1,873.36 per ounce by 0653 GMT, after hitting its highest since Jan. 8 at $1,874.50 earlier in the session.

Bullion had gained 1.7 percent on Wednesday. U.S. gold futures climbed 0.3 percent to $1,871.70.

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