Gold futures jump nearly $ 25, nearing 1,840.

The gold futures rose nearly $ 25, nearing to $ 1,840 today. Responds to the progress of the US economic stimulus package.

However, gold prices remain under pressure from the strengthening factor of the dollar. And the rebound in US bond yields A stronger dollar reduces the attractiveness of gold. This makes gold contracts more expensive to holders of other currencies. The rebound in US government bond yields. It will increase the cost of the opportunity to lose gold. Because it is an asset that has no interest return.

At 22.28 Thai time, the gold contract in the COMEX market (Commodity Exchange) is delivered in April. It rebounded $ 24.80, or 1.36%, to $ 1,837.80 / ounce.

Democrats succeeded in pushing Congress to approve the fast track approval of President Joe Biden’s $ 1.9 trillion economic stimulus package. Called budget reconciliation This will pave the way for the House of Representatives and the Senate to recognize the budget with half a vote. Instead of using two thirds of the votes for passing the general law

Last Friday The US House of Representatives has approved budget reconciliation budgeting guidelines. It was voted 219-209 while the Senate endorsed it with 51-50 votes by US Vice President Kamala Harris. One casting vote as President of the Senate by office. After Democrats and Republicans equalized 50-50 votes.

The House of Representatives and the US Senate approved such budgeting guidelines. It will help pave the way for President Biden’s $ 1.9 trillion stimulus package to pass Congress without the need for Republican support.

Ms. Nancy Pelosi, President of the US House of Representatives Said after Congress approved budget reconciliation guidelines On Friday that The US Congress is expected to be able to pass a resolution approving economic stimulus measures to cure US citizens and businesses affected by the COVID-19 epidemic before March 15, the day the aid measures are taken. The unemployed affected by COVID-19 will expire.

Investors forecast that the US will speed up the stimulus package. After the disclosure of lower-than-expected numbers of non-agricultural employment

The US Department of Labor reported on Friday. The number of non-farm payrolls rose by 49,000 in January. Below analysts had expected an increase of 50,000.

The unemployment rate fell to 6.3 percent in January, lower than analysts had expected to stabilize at 6.7 percent.

President Joe Biden said. The employment numbers are still low. Demonstrates the need for Congress to rush to approve US economic stimulus measures.

President Biden said that If the US continues to create jobs at the current rate It will take 10 years to return to the state of employment to its full potential. And this underscores the need for Congress to accelerate its push for economic stimulus measures to cure Americans and businesses affected by the COVID-19 epidemic.

Mrs. Janet Yellen, Secretary of the United States Show confidence that Employment in the United States will grow to its full potential again in 2022 if Congress approves President Joe Biden’s $ 1.9 trillion stimulus package.

Mrs. Yellen also said that If the US government does not release additional stimulus measures. The unemployment rate will increase dramatically in the coming years. And it may take a long time until 2025 for the unemployment rate to drop to 4% again.


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