Gold and Brent crude rise over 1% after Janet Yellen's 'act big' call

Spot gold gained 1.18 per cent to $1,862.10 per ounce by 8.20 pm IST, having risen 1 per cent to a near one-week high earlier

Photo: Reuters
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In Delhi, gold gained for the third day, rising Rs 347 to Rs 48,758 per 10 gram | Photo: Reuters

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Gold rose on Wednesday to a one-week high as the dollar weakened on US Treasury secretary nominee Janet Yellen's call to "act big" on measures to help the American economy recover from the impact of the pandemic. Brent Crude, too, jumped and traded above $56 a barrel.

Spot gold gained 1.18 per cent to $1,862.10 per ounce by 8.20 pm IST, having risen 1 per cent to a near one-week high earlier.  In Delhi, gold gained for the third day, rising Rs 347 to Rs 48,758 per 10 gram.

"Gold looks fairly positive after all that talk about stimulus yesterday from Yellen

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First Published: Jan 21 2021 | 1:35 AM IST

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