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Gold down in Asia as dollar rises by Investing.com

© Reuters.

By Bryan Wong

Investing.com – Gold was down on Tuesday morning in Asia over a recovering dollar and expectations of an impending US stimulus. However, worsening Chinese and US relations, as well as the ever-increasing number of cases of COVID-19, limited losses for the yellow metal.

fell 0.51% to $ 2,020 at 12:32 AM ET (05:32 GMT).

It was up on Tuesday, with the US Congress wanting to start negotiations on a COVID-19 deal. US President Donald Trump also tweeted that the best congressional Democrats wanted to meet him at COVID-1

9-related economic liberations.

Investors will see if Republicans and Democrats will now be able to agree on the latest stimulus measures.

Signs of economic recovery were also seen in Asia. China’s (CPI) rose 2.7% while its (PPI) also fell 2.4% in July from a year earlier, according to data released by the National Bureau of Statistics on Monday.

Meanwhile, tensions between China and the United States continue to drop after China imposed sanctions on 11 Americans on Monday, in response to the US move on Friday sanctioned 11 Chinese officials and their allies in Hong Kong, including Hong Kong CEO Carrie Lam.

COVID-19 cases also reached a dismal milestone, with over 20 million cases reported as of August 11, according to Johns Hopkins University data. But New York, California and Texas reported a decrease in hospital admissions.

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