Gold price jumps 1% as U.S. relief deal bets grow, dollar retreats
Gold price rose 1% to its highest in over a week on Wednesday as investor optimism that a U.S. coronavirus aid package will be announced before the Nov. 3 presidential elections pressured the dollar and bolstered bullion`s appeal as an inflation hedge.
Spot gold jumped 1.1% to $1,926.76 per ounce by 12:15 p.m. ET (1615 GMT), after touching its highest since Oct. 12. U.S. gold futures rose 0.8% to $1,931.10.