Gold Prices Spike as Trump Dumps COVID Relief Bill

Gold Prices

Gold prices are looking robust this Christmas Eve eve as outgoing President Donald J. Trump unexpectedly declined to sign a $900 billion COVID relief bill that Congress hammered out in an eleventh-hour move before taking a session break for the Christmas holidays. The bill, which would have provided one-time payouts of up to $600 for most Americans, included various clauses that President Trump disagreed with. Upon the president’s rejection of the COVID relief package, markets were sent into a tizzy, with gold prices spiking after the news broke this morning.

Gold prices surged past $1,875 earlier this morning before settling back around the $1,870 mark, up from levels just below $1,860 in recent days. Those who wish to speculate in gold metals are filling portfolios with pre-1933 U.S. gold coins, United States American Gold Eagles, and vintage world gold coinage — all of which is highly liquid and enjoys cross-market appeal both among bullion investors and numismatic collectors. Of course, what comes next leaves many wondering how gold prices will carry into Christmas Eve and early trading next week.


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