Gold prices aim to snap 3-session skid, but set for 2nd weekly slide in a row

Gold futures headed for the first gain in four sessions on Friday but were on track for a second straight weekly decline, as momentum in bullion buying has ebbed considerably despite an environment of rising cases of COVID-19 and tightening social restrictions.

Gold bulls say that fresh prospects for coronavirus relief may be offering some renewed support for buying precious metals.

On Thursday, Senate Minority Leader Chuck Schumer, D-NY., said Majority Leader Mitch McConnell, R-Ky., had agreed to restart negotiations over a new coronavirus aid relief package. Treasury Secretary Steven Mnuchin also said he is preparing to reach out to House Speaker Nancy Pelosi. Up to now, Republicans and Democrats were disputing the size and scope of a potential aid bill.

It isn’t clear if discussions will restart in earnest but commodity investors may find the recent reports sufficient reason to buy gold on the back of more funds being

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Michigan bills aim to reform foreclosure laws

A bill package aims to prevent local governments from profiting from home tax foreclosures.



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If passed, Senate Bill 676 and Senate Bill 1137.bills will align Michigan tax law with a July Michigan Supreme Court ruling that deemed unconstitutional what critics call “home equity theft.”

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Sens. Jim Runestad, R-White Lake, Sens. Peter J. Lucido, R-Shelby Twp, sponsored the bills.

Oakland County seized Uri Rafaeli’s home in 2014 over $8.41 of initial overdue property taxes and sold the property for $24,500 – more than $35,000 less than Rafaeli paid for it – and then pocketed $24,214.

Rafaeli walked away empty handed.

The Michigan Supreme Court ruled in July that local governments withholding any surplus from tax-foreclosure sales that exceeded the amount owed constituted an “unconstitutional taking without just compensation.”

The first bill seeks to allow people to request the remaining proceeds from the sale of

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