Prices for the precious metal, GOLD, closed at 1,876.43, after placing a high of 1,906.67, and a low of 1,854.98. GOLD prices rose in the early trading hours and surpassed the $ 1,900 level, amid the latest news about the US stimulus relief bill. However, the gains did not last long before the GOLD prices started to edge down, as fears of the new coronavirus strain hit the market and investors started to opt for the greenback.On Sunday, the Congressional leaders reached a hard-fought agreement on a $900 billion stimulus package that would send immediate aid to American citizens and businesses, to help them cope with the economic devastation caused by the pandemic, and to fund the distribution of vaccines.

Treasury Secretary Steven Mnuchin said that the latest bill would include provisions akin to those in the original CARES Act, which was the 2.2 trillion relief package approved in March. Individuals, including children, will receive $ 600 each in direct payments. A family of four could end up with $ 2,400. The payments decrease for people who made more than $ 75,000 during 2019. They are phased out entirely for people who made above $ 99,000 that year.Democrats say that the bill will put $ 284 billion into a Paycheck Protection Program and small business loans. The new bill will also direct another $ 20 billion towards small business grants and $ 15 billion to live event venues. It will also include billions of dollars for testing, tracing, and vaccine distribution, as well as $ 82 billion for colleges and schools and $ 25 billion in rental assistance.

GOLD prices rose above the $ 1,900 per ounce just hours after the headlines emerged that rival lawmakers in congress had agreed on a $ 900 billion stimulus bill for pandemic relief.

Daily Technical Levels
Support                Resistance
1,858.34               1,910.64
1,832.72               1,937.32
1,806.04              1,962.94
Pivot Point:         1,885.02