Today the bipartisan coalition which had originally presented an aid package of $908 billion announced a revision that has a much higher probability of being passed and implemented before the end of the year.

If not for dollar weakness a much greater loss in gold would have been witnessed today.  Dollar weakness and its contribution to lessening today’s decline can be seen by viewing the KGX (Kitco Gold Index).

Gold futures scored moderate gains in trading today, with the February 2021 Comex contract trading to a low of $1826.80 before recovering and closing with gains for the day, and a fractional gain for the week.