Gold Heading Again to a 4-Month High Ahead of The US Federal Reserve Meeting Minutes

Gold prices rose on Wednesday, May 19, hovering near their highest levels in four months, supported by the dollar’s decline, ahead of the release of the minutes of the latest US Federal Reserve policy meeting, which is expected to shed more light on policymakers ’views on inflation.

Spot Prices rose 0.3% to $1873.01 an ounce, after touching its highest level since January 29 at $1874.80 in the previous session. US gold futures rose 0.2% to $1872.

The dollar index fell to a nearly three-month low against other major currencies.

Investors are awaiting the release of the minutes of the US Federal Reserve’s monetary policy meeting that took place on April 27-28, scheduled for release at 18:00 GMT.

As for the other precious metals, silver fell 0.2% to $28.14 an ounce after hitting its highest level in more than three months on Tuesday.

Palladium gained 0.1% to $2906.31, and platinum advanced 0.2% to $ 1220.25.